$MFG #magellan finance Possible channel resis after record run$MFG #magellan finance Possible channel resis after record run
Magellen
ASX:MGG Magellen Global Trust 39 weeks ascending triangle breakASX:MGG ascending triangle break out
Target $1.9750.
Stop loss: $1.650
A break below $1.60 will invalidate this bullish view.
ASX:MGG Magellen Global TrustASX:MGG had a pull back today and now resting on the first support at $1.555. I believe we should have a little bit more downside to go as the selling pressure (CMF) is still largely negative. I am targeting buys along the 0.618 Fib. at $1.505 to 1.520. Stop-loss set at $1.47 depending on your risk appetite.
