AwesomeAvani

MGRX Biotech Penny Stock Pullback for Continuation LONG

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AwesomeAvani Atualizado   
NASDAQ:MGRX   Mangoceuticals, Inc.
MGRX with some FDA news catalyst got a lot of action on the last session of the week.

With the pullback and overwhelming volume during the session, a continuation into

the upcoming week is entirely reasonable. ( see also the link)

MGRX had a last price of about $1.50 about a 50% retracement from the high of the day.

I will take a position at market price in the pre-market opening the week. The

target will be $2.25 or midway between the current price and the high of the last session.

This will represent a 50% Return on Trading Position. I will set a stop loss at $ 1.40

representing a 10% loss. Price at present is sitting on a confluence of support of

both the 20 and 50 HMAs along with the lowermost VWAP band. The reward for risk is 5X.

MGRX does not have options. I expect the long trade to hit the continuation target

in less than 5 days. I will set a buy-stop order to take a position when the price exceeds

$ 1.55 with a stop loss of $0.15 to account for the expected volatility.
Trade ativo:
MGRX has great momentum today and looking for more tomorrow.
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