Aug. 24 at 2:03 PM
MON 8/24:
$MGA – SELLING (ALL) P/L: -
$348.75 -1.7%
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.
https://buyingbreakouts.com/mon-8-24-mga-selling-all-p-l-348-75-1-7/
