Hi all,
TA comparison btwn two MGT & ADN; for discussion as there are similar trends. Disclosure I hold both.
MGT;
- Currently below the ichimoku cloud on daily & 4 hourly; which indicates it is in a downtrend
- Below the EMAs, which shows limited support
- Passed the 61.8 retrace, so the 76.4 is next potential support
- MGT started downtrend end of june
I've only included ADN to show similar TA trends on the reversal as both companies have had a solid run up since the H2 2020. Note: ADN has had a number of external factors (i.e. shorting, CR, + others) impacting, this is only looking at it from a TA perspective.
ADN;
- Finding support at 76.4;
- EMAs (20) just starting to support the SP
- Has tested the cloud one (around 10 June), and will need to break the cloud again to resume an uptrend
- ADN started downtrend end of march
all IMO, from reading tea leaves, please DYOR, and share alternative views.
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