Hey guys, if we zoom out to the weekly timeframe, MGNI is showing us real strength around the 40.50$ mark, which coincides at the moment with the 20 week moving average. If the following criteria are met through to the end of the week, I see this as a great zone for accumulation.
- Weekly candle has to close above 40.50$
- I would like to see the RSI diverge slightly wrt price
For anyone trading the name i'd SL at 37$ and target ~60$ all time highs. But I prefer the name for long term.
Any thoughts?
Good luck to all!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
- Weekly candle has to close above 40.50$
- I would like to see the RSI diverge slightly wrt price
For anyone trading the name i'd SL at 37$ and target ~60$ all time highs. But I prefer the name for long term.
Any thoughts?
Good luck to all!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)