MG Unit Trust (MGC.ASX)

22 November 2017

Technical Summary: Since its IPO MGC has been a stock for investors that hate their money. The stock has never really got any momentum and has been locked into a long term down trend. Investors that have held on to the stock have been reminded that unless a stock goes to zero it can go lower. More recently the stock has kicked up in anticipation of a takeover offer. At this stage this is starting to look like a dead cat bounce as the stock has pulled back from these highs. We would like to see the stock eclipse its most recent high and perhaps make another higher low before the stock would be worth considering from a buying perspective.

A reminder for holders that unless a stock price goes to zero, it can go lower.

Do You Want Daily Market Insights?

If you’re interested in staying up-to-date with the latest news and analysis on stocks, be sure to sign up to BlackBull Research.

1 Month Free Trial

Access our expert stock market research Free of charge with no obligation

Free 1 Month Free Trial

Unlock this article & access our expert stock market research

ASX, NZX & USD Stock Buy, Hold, Sell recommendations. Model Portfolios. Daily news and more

[pmpro_checkout]