Looking for it to retest the Low of the day and then roll over.
Appears MPEL is in a buy low sell high opportunity. Potential double bottom. The $25.03 area is a resistance, we MPEL could trade up to, retest the neckline of the double bottom and potentially bounce or form another low. IF one bought shares, could do a covered call.
MPEL expected to open at 24.03 for a Retest Gap. To learn this strategy for free go to www.RealLifeTrading.com
MPEL Expect open around 23.79 for a Retest Gap. After about 30 minutes, watch for bearish break off of 10 or 20 ema on a 5 min chart. Watch out for strong support at 23.53 and make sure the reward risk ratio is there before tracing a trade.