MRCY - Momentum Long from $33.47 as it Breaks Major resistance
MRCY was found in breakout scan which is involved Defense and intelligence programs in the US. It Broke out of Major long term resistance with huge volume. We think if it can break $33.47 it can reach to $40 area shortly.
* Trade Criteria *
Date first found- January 25, 2017
Pattern/Why- Broke out of Major long term resistance
Entry Target Criteria- Break of $33.47
Exit Target Criteria- Momentum ($39-$40 area)
Stop Loss Criteria- $31.77
(Note: Trade update is delayed here.)
* Trade Criteria *
Date first found- January 25, 2017
Pattern/Why- Broke out of Major long term resistance
Entry Target Criteria- Break of $33.47
Exit Target Criteria- Momentum ($39-$40 area)
Stop Loss Criteria- $31.77
(Note: Trade update is delayed here.)
Comment:
February 17th- updating our stop loss criteria to $35.63
March 8th - Made a higher high but closed bearish below EMA lines. Not looking good, need to be cautious.
March 13th - Continued to climb higher holding above EMA lines. Looking very good, Stocks are up 16% so far.
March 8th - Made a higher high but closed bearish below EMA lines. Not looking good, need to be cautious.
March 13th - Continued to climb higher holding above EMA lines. Looking very good, Stocks are up 16% so far.
Trade closed: target reached
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February 2nd- Showing upward momentum after adjusting to EMA lines, seems like forming a pennant formation, with a short term target of $37.30.
January 27th- Nice upward move & closed 2.27% higher. Looking very good as long.
January 26th- Hit entry today, now wait & see.