Lots Of Room To “Roam” Here
Rally On, Traders!
We haven’t looked at Mag One Products Inc. (MGPRF) in awhile. . . it’s been quiet lately in terms of news, but the chart is WILD.
The right day, with these levels of liquidity, can easily do 2 digits. Don’t forget it can take YEARS on the S&P 500 to ramp up that speed!
With the volume bars picking up from near-zero, this chart is finally in a place where traders like us can start interacting with the action.
RSI seems to be barely rounding “oversold” on some gauges and MACD looks to be closing the spread it needs as well.
It may happen today, it may need more time. That’s OK. These commodity plays have a little more heft than hype behind them.
And MGPRF is playing well in the construction space, so any infrastructure boom we see in 2018 feeds that story. The “mag” here is magnesium.
Obviously that’s a big fish for a tiny start-up to chase. No worries: Canada has stepped up with “innovation” programs to help.
Meanwhile, that’s a chart that can respond to dreams. Suit up!
Happy, Happy, Happy Trading!
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