Stock Chart: MPI
Daily Chart
MPI:
- Weekly Chart is improving.
- 3 Green Candles. (Weekly)
- MACD about to show a BUY Signal. (Weekly)
- Candles are near upper Bollinger Band, showing good momentum. (Daily)
If I were positioned in this, I would hold and wait for the breakout of the resistance at 6.9 to 7, since the stock seems to be forming an ascending triangle. Possible sell if 6.9 to 7 is not broken.
If I were looking to buy, I would buy at around 6.4-6.5 if it retraces to this support range.
MPI is still trading within a pattern and is still not trending or respecting the moving averages as support or resistance. Trade the pattern: Buy low and sell near 7. Wait for the possible breakout. Very good fundamentals for this company, expect prices to follow suit this 2018.
These are merely my own analysis as a swing trader, and not any recommendation to buy or sell. Please study the charts and stocks before executing your own trades.
Learn how I analyze stocks using my trading system.
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