I've had MFG on my watch list for a while after making a reasonable profit earlier in the year. I was browsing my old charts on prorealtime and saw that MFG was sitting right on the support line I drew from earlier in the year.
I made this cruddy plot on commsec a couple of days ago to send to a mate at work and said either a) buy now and set a stop loss a safe distance under 10, or wait for the trend to be confirmed and then take a position.
Anyway I'm back on and hoping that it closes today above 10. Targeting a price around 16 over next 3-6 months.
Yes I know the price 'breached' the line I drew around the 20th but I drew it in commsec so it has a nice uncertainty range :) and you should always consider peoples stop losses triggering at round numbers
Note: I'm an absolute amateur at TA.
MFG Price at posting:
$10.25 Sentiment: Buy Disclosure: Held
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