Wednesday, September 25, 2013

********** Trading Buy: Magnus Energy. Share price 0.048. ( Can it clear the CRITICAL 0.050 ?)

Magnus has cleared the immediate resistances at 0.042 and 0.047 on TOP 10 volume today. Likely to test the Critical 0.050 in the next few days, high today seen at 0.049. Aggressive traders can consider entering around this level to wait for a break above the 0.050. Possible to average up on the breakout of 0.050, would be fast, watch it closely, look at the gap it can clear on this breakout. Target to 0.060 then 0.065 if the 0.050 and 0.051 gets lifted. Raise stop loss at 0.048 for long positions on the break. Mainly a speculative counter to trade on the upward momentum and strong volume and the play on Oil and Gas pennies at the moment.
Stop loss at 0.044

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