Early entry in small cap health services, $MEDP
Since late 2021
MEDP
is being forming a head & shoulders base with pivot buy above $230.
This is the beahvior of a potential leader. It shows when comparing it against the
IWO
as is still in a downtrend.
The play for me would be to buy 1/2 or 1/3 of a position just above yesterday's high with a STOP-LOSS below $196. And then add at the $230 pivot.
Medpace Holdings is ranked #1 in its industry by IBD. I recomend to also check
VPG
which is also setting up.
Its being hard for small caps to get demand as the indices are still in downtrends making the sentiment stay bearish.
But as JC Parets always likes to remember, "is a market of stocks, not a stock market".
MEDP
is being forming a head & shoulders base with pivot buy above $230. This is the beahvior of a potential leader. It shows when comparing it against the
IWO
as is still in a downtrend. The play for me would be to buy 1/2 or 1/3 of a position just above yesterday's high with a STOP-LOSS below $196. And then add at the $230 pivot.
Medpace Holdings is ranked #1 in its industry by IBD. I recomend to also check
VPG
which is also setting up. Its being hard for small caps to get demand as the indices are still in downtrends making the sentiment stay bearish.
But as JC Parets always likes to remember, "is a market of stocks, not a stock market".
Comment:
I didn't buy as the volume was below average, still waiting for confirmation.
