MQG fulfills upside target | Gary Glover | Finance News Network

MQG fulfills upside target

by Gary Glover

MQG has rallied marginally higher than the 2009 high of $58.00 which was our minimum target.  Need to be cautious here - as the upside to this rally has now been fulfilled.  A marginal new high here or false break will trigger a potential sell off.  Interesting that time is also telling us that this stock is vulnerable for a pullback after rallying 30 months, corresponding with the last low to low period.  Time could be up for this rally.

Disclaimer

Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.