MBTN.SW upside potentialLonger term play based on semiconductor demand in Europe. The Company emerged from a difficult period, it has secured financing and 2023 is expected to be a breakout year in terms of revenues. Long with 85% profit taking potential, assuming 30% loss risk.
Meyerburger
Meyer Burger - Bottom - LongChart painting from the early 21st century, artist Maxi Scalibusa. No investment advice or a recommendation to buy or sell any securities. This is entertainment. Start 0.4992 CHF
Meyer Burger Update to previous chart.ADDITION TO MAIN PUBLICATION, LINKED ON THE BOTTOM.
As said before, the trend remains bullish. We found a good support on the Weekly combined with the middle of the Uptrend Channel since march 2020.
Trend remains bullish as of now.
Retest of the Monthly at 0.458 would now make sense.
Meyer Burger Rejection, 1 CHF or a 40% retrace?!MBTN recently rejected a few levels. Yearly horizontal, 0.236 Fib and the "local" monthly combined were acting as a huge resistance. Combined with the massive run since March 2020 Crash, a retrace made sense and is healthy.
A retrace to 0.25 Chf would make sense, that's where I initially entered the trade and also bought Call Options.
Although it would make sense technically, a 40% retrace seems unlikely to me in the current environment with green energy, MBTN's new business plan and ambitions.
If I was looking for an entry into MBTN, I'd observe the latest resistance I lined out above.
Once claimed, it can see a healthy run up to 0.66 (Key-Resistance/Support) and up to 1 Chf which is the Golden Pocket pulled from the last high.
The trend remains bullish, no need to think otherwise until proven wrong.
Bottomed out, trend reversal?Did we just see a trend reversal of the Swiss Company Meyer Burger.
The Company just announced, that they will produce solar panels in Germany.
A brave decision.
Having a look in the history, we saw an overall trend in Europe. Solar production companies started in the 2010s, but failed to succeed due to the strong Asian competitors and cheap production conditions.
The current situation and thoughts to bring back local production could lead to an success.
The history of the stock shows a fall from 358 Doller to 20 Cent.
The change of energy sources away from coal could lead this current penny stock back to a proper stock.
The future will show the potential!
Meyer Burger: Long Term Channel since New Strategy announced.Check the chart for some additional details about the capital increase.
You can find all the details about the capital increase and the new strategy by googling "Project Indium – Entwicklung zum Produzenten von Solarzellen und Modulen"
