How the (MDGL) price action is used to our Advantage

March 24, 2024, 04:08 am ET, BY Tom S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for MDGL

• Buy MDGL slightly over 196.54 target 260.55 stop loss @ 195.97 Details

The technical summary data tells us to buy MDGL near 196.54 with an upside target of 260.55. This data also tells us to set a stop loss @ 195.97 to protect against excessive loss in case the stock begins to move against the trade. 196.54 is the first level of support below 248.2 , and by rule, any test of support is a buy signal. In this case, support 196.54 is being tested, a buy signal would exist.

• Short MDGL slightly under 260.55, target 196.54, stop loss @ 261.3 Details

The technical summary data is suggesting a short of MDGL as it gets near 260.55 with a downside target of 196.54. We should have a stop loss in place at 261.3though. 260.55 is the first level of resistance above 248.2, and by rule, any test of resistance is a short signal. In this case, if resistance 260.55 is being tested, a short signal would exist.

Swing Trading Plans for MDGL

• Buy MDGL slightly over 249.53, target 260.55, Stop Loss @ 248.81 Details

If 249.53 begins to break higher, the technical summary data tells us to buy MDGL just slightly over 249.53, with an upside target of 260.55. The data also tells us to set a stop loss @ 248.81 in case the stock turns against the trade. 249.53 is the first level of resistance above 248.2, and by rule, any break above resistance is a buy signal. In this case, 249.53, 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 MDGL slightly near 249.53, target 196.54, Stop Loss @ 250.25. Details

The technical summary data is suggesting a short of MDGL if it tests 249.53 with a downside target of 196.54. We should have a stop loss in place at 250.25 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, 249.53, 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 MDGL

• Buy MDGL slightly over 248.56, target 249.53, Stop Loss @ 247.98 Details

If 248.56 begins to break higher, the technical summary data tells us to buy MDGL just slightly over 248.56, with an upside target of 249.53. The data also tells us to set a stop loss @ 247.98 in case the stock turns against the trade. 248.56 is the first level of resistance above 248.2, and by rule, any break above resistance is a buy signal. In this case, 248.56, 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 MDGL slightly near 248.56, target 236.77, Stop Loss @ 249.14. Details

The technical summary data is suggesting a short of MDGL if it tests 248.56 with a downside target of 236.77. We should have a stop loss in place at 249.14 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, 248.56, 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  Madrigal Pharmaceuticals Inc. (MDGL) available here: MDGL.

MDGL Ratings for March 24:

Term →	Near	Mid	Long
Rating	Weak	Strong	Weak
P1	0	0	138.07
P2	236.77	249.53	196.54
P3	248.56	276.06	260.55

AI Generated Signals for MDGL

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Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Madrigal Pharmaceuticals Inc. (NASDAQ: MDGL) data table below can help you with price action, and we have more details too. Trading plans for MDGL are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.