Trading (MGY) With Integrated Risk Controls

November 24, 2024, 10:58 am ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MGY

• Buy MGY near 26.94 target 29.24 stop loss @ 26.86 Details

The technical summary data tells us to buy MGY near 26.94 with an upside target of 29.24. This data also tells us to set a stop loss @ 26.86 to protect against excessive loss in case the stock begins to move against the trade. 26.94 is the first level of support below 28.79 , and by rule, any test of support is a buy signal. In this case, support 26.94 is being tested, a buy signal would exist.

• Short MGY slightly under 29.24, target 26.94, stop loss @ 29.32 Details

The technical summary data is suggesting a short of MGY as it gets near 29.24 with a downside target of 26.94. We should have a stop loss in place at 29.32though. 29.24 is the first level of resistance above 28.79, and by rule, any test of resistance is a short signal. In this case, if resistance 29.24 is being tested, a short signal would exist.

Swing Trading Plans for MGY

• Buy MGY slightly over 29.24, target n/a, Stop Loss @ 29.16 Details

If 29.24 begins to break higher, the technical summary data tells us to buy MGY just slightly over 29.24, with an upside target of n/a. The data also tells us to set a stop loss @ 29.16 in case the stock turns against the trade. 29.24 is the first level of resistance above 28.79, and by rule, any break above resistance is a buy signal. In this case, 29.24, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short MGY slightly near 29.24, target 28.52, Stop Loss @ 29.32. Details

The technical summary data is suggesting a short of MGY if it tests 29.24 with a downside target of 28.52. We should have a stop loss in place at 29.32 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 29.24, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for MGY

• Buy MGY slightly over 28.98, target 29.24, Stop Loss @ 28.91 Details

If 28.98 begins to break higher, the technical summary data tells us to buy MGY just slightly over 28.98, with an upside target of 29.24. The data also tells us to set a stop loss @ 28.91 in case the stock turns against the trade. 28.98 is the first level of resistance above 28.79, and by rule, any break above resistance is a buy signal. In this case, 28.98, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short MGY slightly near 28.98, target 28.52, Stop Loss @ 29.05. Details

The technical summary data is suggesting a short of MGY if it tests 28.98 with a downside target of 28.52. We should have a stop loss in place at 29.05 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 28.98, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Magnolia Oil & Gas Corporation Class A (MGY) available here: MGY.

MGY Ratings for November 24:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	24.58
P2	28.39	27.64	26.94
P3	28.98	28.52	29.24

AI Generated Signals for MGY

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Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Magnolia Oil & Gas Corporation Class A (NYSE: MGY) report below can help you, but we have more details too. The trading plans for MGY, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.