$MGK Pullback Buyers Hunting For The Entry

MGK has had a great run higher doubling in value from the lows. This move higher did get quite overextended creating an overshoot on the highs. When a market blows through a level (in this case the channel highs) and overshoots it, the response is very important. In this case, the response was immediate bear pressure which caused the bulls to fail hard. Now that we have seen the overshot high failure, it is expected to see an overshot on the lows too to equalize. Buyers are lying in wait for the best dip opportunity to jump back in this monster.