JustChartThings

Short correction to 1.5 for 50%

NYSE:MPO   MIDSTATES PETROLEUM COMPANY INC
MPO
78 0 0
mpo
With clearly oversold technicals near the beginning of last week, strong price and volume movement looks to redirect the price back into the downtrend channel . RSI/MACD/OBV all support this. Looking for volume confirmation on Monday for a potential move to 1.50 - buying in PM at 1.00 or below with a SL at 0.9, the EMA10.
Comment: Not a bad day, trend still intact and providing a nice buying spot at 0.88. Tight SL at 0.80 for limited downside risk.
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