FRI 5/15: MGA – CALLING A 1ST SELL SIGNAL @ $60.29 -0.8%

9:52 AM – Shares sliced below the 10 DMA first thing this morning. Initial breaks of the 10 DMA are SELL SIGNALS under our guidelines. The stock did find support at ROUND-$60, with additional support below there at the 50 DMA, currently at $58.40.

ULTRA Trader’s Tip: First Breaks Set the Tone

  • Initial breaks of the 10 DMA often signal momentum is weakening.

  • Round-number levels like $60 can provide temporary support.

  • The 50 DMA becomes the next major support area if weakness continues.

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Chart services courtesy of stockcharts.com. Annotations by James Taulman.