M&G triggers MRV1 on 8 Jan 2023 at the price of RM0.230 at closi
This is repeated signal, as the previous signal was triggered on 26 Dec 2023 when the share price was RM0.220
The support level for M&G is RM0.220, but a safer stop loss would be RM0.195, which is also the previous equilibrium support.
The resistance level for M&G is RM0.250, followed by RM0.275, but the target price is set to RM0.270 to ensure a good risk/reward ratio of 1:2.
The holding period for this trade is estimated to be 2-3 months, based on the daily chart analysis.
This information is for discussion purposes only and is not a buy/sell call.
MG
MG; MISTRAS GROUP - 100% GAIN- BULLISH MOMENTUM BUILDING
- ASSET CLOSE TO BREAKING OUT OF DOWNTREND
- PRESSURE BUILINDG AT RESISTANCES FOR STRONG MOMENTUM INTO XMAS/EARLY NEW YEAR.
MG: Imminent 40% dropMG currently belongs to the Top 100 most (monthly) volatile stocks, and is so within very healthy boundaries and calculable formations. Those looking for a low risk short-trade, this is it. Smooth sailing to $10 or lower within 2-4 months.
Formation: Left-handed closing wedge (failed)
