it's nice to see green rather than red. Nice move but looks to be a rejection at .90 ... on the weekly, the chart is showing we are still in the down trending channel. We need to break through and close above $1, on at least a daily timeframe, to break out of the channel. The 50% of the current range on the weekly is .96 which matches up with lows in Sept 2021 and June 2022 so it's probably going to be a difficult resistance to break through but it's MGT so anything is possible:
Trend: MGT is still in the down trending channel so the trend is down
Momentum (RSI): 62% but looks to be rejecting off of the down sloping trend line on the rsi however momentum is up trending
Volatility: very high at 78%. if volatility remains high we could see further explosive moves in the direction of the momentum (rsi)
The bullish divergence is playing out and the question i'm asking is there enough energy in this move to break above $1? My guess is we'll have a bit of a pull back to not below .65 (I hope) and then another shot at breaking through $1 but with volatility so high anything is possible
if I were looking to invest in MGT I'd be waiting for a break and close above $1 before taking a position (not financial advice just a personal observation)
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