JoeHayes
Long

Bullish Divergence to lead MDR to retest $3

NYSE:MDR   MCDERMOTT INTERNATIONAL INC
Seeing very prominent bullish momentum divergence coming on a double bottom for MDR             . All systems are go on the Mac-d signal lines, histogram, and RSI to try for a long position to retest the $3 mark which is at the nearest level of resistance. We saw above average volume each of the last three days which included a small pin bar followed by a price confirmation close, and bulls then breaking highs from Jan 20 creating a suitable swing point to trade on. It gives a healthy 1:2.44 risk/reward ratio.
Bang on the money!
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