MGR – Mirvac Group

Stock : MGR – Mirvac Group

Current Price : 2.32

Status : Price Structure Review

Its always good to review winning trades but just as important to review missed opportunities. MGR was one that we alerted for a potential buy but then dropped the ball and missed a great opportunity. The price action played out nicely although the potential entry zone was a little choppy and would have put the entries under a bit of heat. Price is still grinding higher so we will watch to see if another opportunity presents.

 

ORIGINAL ALERT 3/2/17

Stock : MGR – Mirvac Group

Current Price : 2.065

Status : On watch for buy entry setup

MGR has a strong long term uptrend in place which we are looking to continue. The weekly chart has been grinding higher holding higher lows since mid 2011 and now looks primed to continue higher out of contraction. Watching closely now for the daily to build a minor higher low (similar to previous price action back in Dec )  to potentially push price up out of contraction through previous highs at 2.34.