ASX: MPL - Medibank Private

ASX:MPL closed above the 55MA for 2 consecutive days. CMF has been neutral for the past week - hints of accumulation - prices were moving sideways. Volume is rising and this is positive. We have a few hurdles to clear from between $3 up to $3.17.

As TK has crossed below the cloud, this signifies a weak bullish sentiment, but it is a first step we need to take in the right direction. Next, we need the prices to cross the barrier to above the cloud in order to have a stronger change in trend direction and head towards the upper trendline eventually at $3.37. For a safer entry, a close above the cloud with confirmation and with a tight stop-loss at $2.94 will see less risks.

A price break below $2.85 will invalidate this view.
Comment: Breakout of h&s bottom.

New target $3.33
Comment: Still bullish.

New outlook.

This post and ALL (previous and future) posts are purely for entertainment purposes only. The owner of this post is not a lawyer, accountant, financial advisor, investor or pastor. All the comments here are personal opinions.


thoughts on this?
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