$MAGMA Single-day plunge of 22% hitting 20 million in trading volume, is this the time to cut losses or buy the dip? I am currently at an unrealized loss of 8.2% and haven't moved.


Real position: cost 0.438, current price 0.402, unrealized loss 8.2%, position accounts for 10% of my capital today. Planning to place a buy order at 0.395 to add 5%, stop loss set at 0.370 (7% hard stop). Take profit in two levels: sell at 0.435 to add to the position, clear the entire position at 0.485.
Predicting two scenarios: A - Volume stabilizes around 0.395, indicating a successful second bottom signal, add more and wait for a rebound; B - Break below the previous low of 0.386 with decreasing volume, directly cut to half to prevent accelerated decline.
The high of 0.5428 over the past 24 hours has fallen, but trading volume is still increasing, indicating the battle between bulls and bears is not over. Short-term support is at 0.386; if broken, I will have to exit.
Results will be updated in the comment section.
MAGMA-16.18%
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