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2018-05-05_MGXMF

We will now give MGX Minerals (CSE: XMG / OTCMRKT: MGXMF / FWB: 1MGMF) another chance and re-enter it in the long-term portfolio with a MGXMF limit buy order place at $0.71 before the opening of Monday, 7 May 2018, with a stop loss at $0.59. The previous attempt ended at breakeven but following the recent consolidation with a succession of spinning candles above the long term support we believe – as previously identified –  that the stock is now ripe for a major reversal also  considering its sustained relative strength and more particularly the dramatic increase of exchange volumes during the last two weeks (framed). The positive news flow such as MGX looking forward to booking first revenue by OctMGX to spin out zinc-air fuel cell division, and Vancouver-based ZincNyx to deploy zinc-air fuel cell technology in New York City comes in support of the bullish reversal scenario.

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