Thank you - very good analysis and is how I am also interpreting the TA at the moment. As a couple of sidebars to your 42c target:
1. That 42c target is also the exact level needed to fill the chart gap from July last year; and 2. We had a 5-wave impulse (that I am interpreting as Wave 1) from 27.5c to 34.5c in September last year and no new low since (so I am interpreting as a sideways Wave 2 with triple 29c lows). If we move up from here and apply a Fibonacci 1.62x Wave 1 as being the Wave 3 target, we get a 40.5c initial target for Wave 3. So, in the same ballpark for the next move up.
All together, is technically looking very interesting and is now just waiting for the news flow to get this moving.
MGX Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
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