$MAGIC Doubles in a Day With No Catalyst in Sight
MAGIC jumped 85% in 24h to $0.124 and is up 112% on the week, on $33.7M volume. I could not find an official reason, and that is the problem.
Most of the move came in one session: yesterday's close was $0.0666. Without news this looks like a momentum squeeze that can reverse as fast as it came.
Verdict: bearish short term. Expect MAGIC to fade toward $0.0666 support while it stays below $0.128 resistance. Not financial advice, DYOR.
$MAGIC
MAGIC jumped 85% in 24h to $0.124 and is up 112% on the week, on $33.7M volume. I could not find an official reason, and that is the problem.
Most of the move came in one session: yesterday's close was $0.0666. Without news this looks like a momentum squeeze that can reverse as fast as it came.
Verdict: bearish short term. Expect MAGIC to fade toward $0.0666 support while it stays below $0.128 resistance. Not financial advice, DYOR.
$MAGIC