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MGI Long Play

Di BrokeCollegeStudent
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Very cool chart, accumulation and tightening price action at the end of a wedge. Some bullish divergence on some indicators also near previous support. I like using fib EMA's (9,13,21) and the 9 is really close to its current price at $2.21. With all of this info long play seems great here, by candlesticks alone we are breaking out of this current contraction pattern and my bets are placed to the upside. With the 9 EMA so close, if we push above it and move out of this pattern the 13 and 21 EMA will be great support as well as this divergence in the indicators.
Nota
More divergence is showing up, move to the upside expected.
Chart PatternsTechnical IndicatorslongsetupmgiTechnical AnalysisTrend Analysis
BrokeCollegeStudent

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