xsubtownerx

H&S, nice buying opportunity?

TSX:MRU   METRO INC
Pretty clear cut Head & Shoulders pattern here that has now created an interesting buying opportunity. At least for the short term. MRU             has now hit the top part of its first support range and bounced off it as convincingly as it did in late June. Interesting setup right now.
Comment: Will most likely start a position here tomorrow or Thursday if markets start to calm themselves a little.
Comment: Nice reversal candle today. Low volume is a bit a of a drag but we're getting close here.
Comment: Still very much in play for short term bounce (3-5%) as anticipated. Hammer candle with volume should mean a good start to next week.
Trade closed manually
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