TUE 8/4: MGA – BUYING/ADDING TO (1/3) @ $70.14

1:48 PM – Adding another 1/3 position to MGA this afternoon as shares trade higher from the 10 DMA and begin breaking above the ROUND-$70 level while volume runs well above average. The combination of support at the 10 DMA, a move through round-number resistance, and strong volume gives me enough bullish confirmation to increase the position.

James Trader’s Tip: Add When Strength Confirms the Setup

  • An advance from the 10 DMA shows that technical support is holding.

  • Breaking above a key round-number level adds another layer of bullish confirmation.

  • Above-average volume strengthens the move and helps justify adding to an existing position.

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