MON 8/24: MGA – SELLING (ALL) P/L: -$348.75 -1.7%

James F. Taulman
James F. Taulman
James had served as Editor-in-Chief of the first independently licensed website to offer stock reports and services based on the CAN SLIM® investment system. •

9:41 AM – Selling all my MGA shares quickly this morning as the stock sells off sharply on a huge increase in volume and breaks below the ROUND-$70 support level. The combination of heavy selling pressure, a key support violation, and expanding volume is enough technical deterioration for me to exit the position and move on.

James’ Trader’s Tip: Sharp Selling on Heavy Volume Demands Action
• A break below a key support level is already a technical warning.
• When that break comes with a major increase in volume, the signal becomes much more meaningful.
• Heavy-volume weakness should be respected quickly before a manageable loss has the chance to become something larger.

#MGA #StockMarket #SwingTrading #TechnicalAnalysis #StockCharts #SupportLevels #Investing #BreakoutStocks #BuyingBreakOuts

https://buyingbreakouts.com/mon-8-24-mga-selling-all-p-l-348-75-1-7/

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