Company Overview: Magnolia Oil & Gas, an independent U.S. oil and gas company, has demonstrated significant growth, with a 151% increase in returns on capital employed over the past five years. This achievement, combined with a reduced capital base, positions MGY for substantial stock price appreciation as investors take notice. Institutional Interest: Hedge...
We are expecting the price to continue the uptrend and retrace to the 78.6% Fib Zone. The Stochastic Oscillator shows the stock is oversold, which indicates a probable pull back to the upside. Also, the price is currently at the lower part of the Keltner Channel, therefore we are expecting it to bounce back and create a higher high. Entry: 24 Invalidation:...
ENTRY: 21.81 SL: 19.27 TP1: 23.83 TP2: 24.53 - ADX>20. - Maintaining at pivot point "P", HVN level and 38%/50% fib level. - Wash and rinse pattern on 8 and 9 Feb 2022. - Strength meter is green hence some strength. - Watch for earnings on 16 Feb 2022. Oil prices are at a high hence earnings should be good. - Entry based on breakout from VZ today but prefer it...
Crude oil looks like it wants to go higher so I took a position in MGY as my energy play. I will trail my stop until I get stopped out. Expected target is $26.55 and from where I bought in, that is a 18.37% profit potential with a 2.59% risk. Got the expected target of $26.55 because MGY looks like a bull flag breakout.
I have been holding this one for a while, sold it around the 20s when I noticed strong rejection along with MGY.. I am eyeing some gaps to be filled at $12 and $15! I don't see this as a longterm hold either but it does swing amazing!
no target.. but based on the chart this will keep rising.. eyeing $45-50! bullish $OXY $MGY!
Two scenarios can play out here, more than likely (bullish scenario) plays out 1. (green line) we blast through 6.48 and we reach $7-8+ 2. (red line) we test 6.48 and reject... test 5.47 or 4.65 then BOUNCE BOUNCE!
MGY is in strong bearish trend in the weekly time frame. However, the stock has been establishing a good base in the daily time frame. The daily breakout was accompanied by strong volume.