glennmercer
Long

MITK Long: Bat Complete at 100 Day EMA Support

NASDAQ:MITK   MITEK SYSTEMS INC
MITK has completed a bullish bat in a with a PRZ that is confluent with support from the 100 day exponential moving average . To add to bullish bias, 2 missed weekly pivots sit above price. Entry is placed at the bottom of the PRZ with target at the missed weekly pivot from 12/14.

Confluence in the PRZ:
  • Bullish bat
  • 2AB=CD
  • 2.272BC Projection
  • EMA100 Support
  • Bullish MACD Divergence
  • S/R Zone
  • Missed weekly pivots above price
Trade active
Comment: Great bounce, moved SL to B/E
Trade closed: target reached: TP at +16%
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