Jan. 21 at 5:40 AM
$MGA Context: Trump tariff rhetoric = auto/parts risk-off bias
Structure
Clear bearish impulse from ~
$57 → ~
$53.
Price below key VWAP/EMA ribbon; trend still down.
Bounce attempts are corrective, not impulsive.
Levels
Resistance: 54.6–55.2 (prior breakdown), then 56.5.
Support: 53.2–53.0 (current), then 52.4.
Momentum
RSI weak, attempting basing but no bullish divergence yet.
Sellers still control rallies.
Tariff Overlay
Auto suppliers are directly exposed to tariff headlines.
Any tariff escalation = sell-the-rip behavior likely.
Relief only if rhetoric softens or exemptions appear.
Bias
Primary: Bearish / weak sell below 55.
Alternate: Short-term bounce only if 53 holds; fades into resistance.
