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Buyers push MGX lower as commodity stocks come under pressure. The remaining Stop Loss level at 0.94 was trigger so the alert is now closed and remaining gains all locked away.
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Alert History
Previous Alert 9/01/20
Current Active Alert Management MGX
Time Frame : Daily/Weekly
Sector : Materials/Basic Materials
Broker Consensus : BUY/HOLD
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MGX – Mount Gibson Iron
MGX held up well under ASX pressure yesterday and has kicked on higher today. Time to lock away further gains on the remaining alert and move the Stop Loss up from 0.80 to 0.94. Watching now to see how price reacts around the 1.10/1.13 zone.
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Stock Code : MGX – Mount Gibson Iron
Company Website : www.mtgibsoniron.com.au
Current Price : 1.035
Previous Buy Entry (Trigger Level) : 0.82
Previous 50% Partial Exit (Partial Target) : 0.95
New Remaining Sell Exit Zone (Stop Loss/Cancel Level) : 0.94
Status : On watch for continuation higher
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Previous Alert 17/12/19
Current Active Alert Management MGX
Time Frame : Daily/Weekly
Sector : Materials/Basic Materials
Broker Consensus : BUY/HOLD
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MGX – Mount Gibson Iron
MGX has kicked on nicely and extended up into a potential resistance zone so we are happy to take some risk off the table and lock away some gains. Watching for a partial exit at 0.95 (Current Offer Price) and happy to raise the stop loss level from 0.75 to 0.80.
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Stock Code : MGX – Mount Gibson Iron
Company Website : www.mtgibsoniron.com.au
Current Price : 0.945
Previous Buy Entry (Trigger Level) : 0.82
New Potential 50% Partial Exit (Partial Target) : 0.95
New Sell Exit Zone (Stop Loss/Cancel Level) : 0.80
Status : On watch for continuation higher and partial exit
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Previous Alert 25/11/19
MGX opened strong to trigger the Buy Entry Level at 0.82 so the alert is now active. The Stop Loss is held at 0.75 and the current price is trading at 0.82.
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Original Buy Entry Alert 22/11/19
New Buy Entry Alert MGX
Time Frame : Daily/Weekly
Sector : Materials/Basic Materials
Key Stats : $897.2 Million Market Cap, VWAP 0.78, ASX Ranking 272, 4 Week Av Turnover $3,745,524, Current Turnover (Intraday as at time of alert) $, PE 6.5, Div Yield 5.16%.
Company Overview : Mount Gibson Iron Limited (MGX) is an independent Australian producer of direct shipping grade iron ore products, with assets in the Kimberley and Mid West regions of Western Australia. The company has three major projects being Koolan Island and Extension Hill and Tallering Peak.
Broker Consensus : BUY/HOLD
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MGX – Mount Gibson Iron
MGX is ready to hold higher levels and make a move up to new highs. We are now happy to buy on a push up through 0.82 with a Stop Loss at 0.75. If price falls below 0.75 prior to entry, we will cancel the alert and re-assess the action.
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Stock Code : MGX – Mount Gibson Iron
Company Website : www.mtgibsoniron.com.au
Current Price : 0.785
New Potential Buy Entry (Trigger Level) : 0.82
Potential Sell Exit Zone (Stop Loss/Cancel Level) : 0.75
Status : On watch for Buy Entry Trigger
