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Monadelphous Group Limited

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8MP trade ideas

MND - Have we witnessed a Bullish Breakout?MND seems to have broken out strongly out of its descending wedge with high volume suggesting that we may have seen a bottom on the Weekly chart. I think price may find some resistance currently and provide a great buying opportunity lower. I think that any pullback lower may be a buying opportunity. It could restest the POC of Volume Profile or previous Support, or any retracement lower. I would be a buyer at $11.00 and would target the old highs, ideally towards $13.30 - $13.50 range. Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
ASX:MNDLong
by AsimMirzaTrader
MND - Another Buying Opportunity?MND may be poised to move up aiming its previous resistance. A breakout of the bearish trendline (Wedge) combined with bullish price action off from the POC of Volume Profile makes me bullish. Another evidence is the MACD cross with Bullish Divergence which tells us that the Bearish Momentum has exhausted as price was going down and MND is ready for an upswing. My trade plan is as follows: TP1 - $12.40 (Potential gain 10%) TP2 - $13.30 (Potential gain 20%) Stoploss - $9.90 Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:MNDLong
by AsimMirzaTrader
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