Several indicators suggest MP has finished its 3 year downward sprial and the stock is ready to reverse. The stock price has bounced off a multiple bottom, and crossed above 2020 high. While the stock is in the downward trend, it's trading closer to the lower end of the channel, providing further upside. Fundametally, need for rare earths is imminent. The company...
The Federal Reserve during the FOMC and in its SEP has hinted greatly towards deep rate cuts in 2024 because they see the CPI going down and no longer feel the need to tighten further, and are under the assumption that great progress has been made.
I for one do not agree with this perspective and think rates need to go much higher before inflation can truly be...
Analyzing the options chain and the chart patterns of MP Materials prior to the earnings report this week,
I would consider purchasing the 17.5usd strike price Calls with
an expiration date of 2023-11-17,
for a premium of approximately $0.30.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward...
MP closed the week with a hammer candle, if this is confirmed with next week's candle close, this would set a short term bottom for MP. Red lines above mark the potential target for this wave (1) off the lows. So far it is shaping up as a leading diag off the lows for wave i, suggesting this next wave iii higher will be robust (as long as the low at 20.21 holds)....
Hey Folks,
Once the market digests the news, I think this has a high probability of playing out. The pattern has looked great for some time.
Persistent Bullish divergence has been working towards a move, and a catalyst like China restricting exports of rare earth minerals of all things is simply perfect for the setup. China is MP's largest competitor.
I...
MP Materials Corp. owns and operates rare earth mining and processing facilities. It owns and operates the Mountain Pass Rare Earth mine located in the Western Hemisphere. MP Materials is one of five non-chain Western rare earth refineries in operation, construction, or recommissioning and their Mountain Pass operation in Nevada is currently restarting......
Price for MP is extremely low, The potential upside for this is like 30% in the next weeks, today is the report day, so maybe is good time to start a position here. GL
Hey Folks!
I found this bullish divergence with a double bottom. There is simply way more liquidity to the upside, I expect a 40-50% return. Failure of this zone could potentially send it towards $14 range, which is less probable imo.
Happy Trading!
OnePath
MP posted another good Quarter with a healthy growth both in EPS and Revenues.
The midcap Company has an impressive track record of EPS and Revenue beats. More important, its business might get into headlights - rare minerals miner with double digit growth and 83% Gross Profit margin, 50% Net Income Margin.
Watch for a pick up in volume, it deserves a higher...
This has been a despointing few weeks I think this has a shot way oversold. has an uphill battle of resistance along with MA if it can change trend and move past 200 id be a happy man
Potential setup here at channel bottom with 200 dma and daily + weekly rsi support.
gotta respect the stop below the volume node outcrop at 37.60, in case it continues to drop to the larger volume node and demand zone between 35-32.
worth a shot i think
MP has been a strong stock and looks to be putting in a successful retest of prior resistance. It is finishing strong and has good volume today. I'm already long this name, but would consider this a good spot for new longs as you can set stops below today's low. My stop loss will move up to that spot.
