MGTI - Update for 10/30/17 - Cup+Handle breakout
Updated
MGTI up 27% in the last 2 trading days. Expecting good news next week that will get us the rest of the way towards breaking out of the handle.
No doubt, it's coming. The stars are aligned. Business makes sense, revenue is dramatically increasing and the charts have thrown us three big bullish indicators.
Cup+Handle formation over 14 months
Falling Wedge more recently
Double bottom (happened 10/25)
Very good chance of doubling your money over the next 2 weeks with MGTI.
You can get in now for more gains or you can wait for MGTI to cross $2.63 and hit $2.70 to confirm a break out.
Once the breakout is confirmed, first price target is $4.50.
Longer view term - $6 by January and $12-15 summer 2018.
Remember when Apple was $20?
Remember when MGTI was $2?
Strong buy
Do your own research and DD. Disclaimer - this is my opinion only. I BELIEVE and I am long 50K shares MGTI
No doubt, it's coming. The stars are aligned. Business makes sense, revenue is dramatically increasing and the charts have thrown us three big bullish indicators.
Cup+Handle formation over 14 months
Falling Wedge more recently
Double bottom (happened 10/25)
Very good chance of doubling your money over the next 2 weeks with MGTI.
You can get in now for more gains or you can wait for MGTI to cross $2.63 and hit $2.70 to confirm a break out.
Once the breakout is confirmed, first price target is $4.50.
Longer view term - $6 by January and $12-15 summer 2018.
Remember when Apple was $20?
Remember when MGTI was $2?
Strong buy
Do your own research and DD. Disclaimer - this is my opinion only. I BELIEVE and I am long 50K shares MGTI
Trade active
MGTI Opened up +6% this morning before immediately dropping down to be flat with Friday's closing price. Volume is currently low compared to the last few days. Currently at the low of the day $2.09.Expect to hover around this range until news/update from MGT / McAfee. Once this hits, expect the stock to surge upwards and then probably downwards to a new support level.
We're not exactly sure when the news we're expecting this week will hit by presumably by Wednesday when Sentinel begins shipping. Expect to see a breakout whenever this happens. Keep an eye on the top channel line for the handle. We want to see the price cross that line to confirm breakout. Once the breakout is confirmed, we should see the price move quickly to 4.50ish.
Logic behind price targets:
Bottom price of the bowl is .60 and breakout is expected around $2.60 so (theoretically) a good price point for a handle breakout would be $4.60 ($2.60 + $2 gap).
But we could very well go higher than $4.50 this push though. Based on BTC price and previous run to $4 the current price should be in the $5-6 range. I expect MGTI to be $6 by January and $12-15 summer 2018. (BTC will be over 10K by then).
MGTI stock was suppressed in the month of October due to pressure from penny stock shops short-selling and spreading lies, FUD and misinformation in an effort to drive the stock downward.
Good time to load up - If you didn't buy last Wed/Thursday/Friday you still have today.
Projected profit is likely 100% from this point. ($2 to $4 price)
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