MGT - Get in at the pull back!!!

MGT is testing a major resistance area of 13.50. It may break that and test 14 to 14.50. Both levels have been major support areas during the recent past. If we see 14.50 or somewhere between 14 and 14.50 we will see a pull back to test the support at 13.50. Thereafter it will reverse and trend up to break out of 14.50. However if a pull back is to happen, the period of retracement down and the reversal up can not exceed more than 3 to 4 days. If a retracement is happening wait for the 2nd or the 3rd day to enter. If we see it retracing more than 4 days the present up trend will fail. Along with this trend we need to see above average volumes changing hands like what we saw on the 19th and the 20th. Let's watch how the trend is unfolding to initiate a pull back entry.