MR Price time to buy Here we got a great set up
POC and down trend channel give some great Entries
Will wait for the weekly Candle close but looking to get in here as selling pressure dries up
M5M1 trade ideas
Mr. Price on Support?Price back at the R205 support area on the Daily chart, which also coincides with the 50 day moving average.
Should this level holds, we could bounce back above R220.
Triple Top ResistanceJSE:MRP is once again showing a bearish engulfing candle pattern, but this time, it is also coinciding with a triple top resistance level. The last bearish engulfing didn't play out, but because of the strong resistance, this one is more likely to.
MRP Trend ReversalWe have a Bearish Engulfing on JSE:MRP which was formed yesterday. This could mean a possible trend reversal from the short term up trend.
I have entered a short trade at this morning's opening.
Mr Price running with the bullsMr Price has had a mixed year so far. In January, it dropped a massive -16.69% in one day falling from R259.14 to R215.24. It then spent the next two months trading a range between R205.00 and R225.00 before finally dropping to R180.00.
Since then, the stock has discovered some bullish vigor, running all the way up to R221.82. The MACD also broke above the the zero-line indicating a bullish trend is back in force.
My only concern is the Slow Stochastic. It has been indicating the stock is overbought for a while now. I expect some minor bearishness before the stock continues its bullish run.
I will thus look to buy MRP on weakness.
Action: Place a Limit Order to go LONG with your Limit Price set to R205.00. Set your Stop Loss to R180.00 and your Take Profits to R230.00 and/or R250.00.
MRP - Go Long Above R223Cup and handle breakout.
Resistance at R223. If break through here a possible R259 in sight.
Strong Support at R196
$JSEMRP Mr Price. Inverted head and shoulders in the makingNeckline break of 11600 will open 22650 and 25200 targets. Wait for a neckline break.
$JSEMRP Mr Price Bull flag breakoutLooks like a bull flag breakout on Mr Price. Target 206 for this flag.
Mr. PriceMr. Price through the neckline resistance; next is the previous support (now resistance) around R204/R205.
$JSEMRP Mr Price. Bottom gap close could become a targetThe gap at 17800 - 18800 could become the target for bears after the recent bear flag break.
Mr. Price: Rising wedge on the hourly chartThis morning we witnessed what looked like a 'false' break to the upside of the wedge pattern.
Currently -1.2% down, as the wedge pattern seem to be playing out.
Mr PriceMr Price moved 1.94% on Friday higher to close @ R210. The 200-day moving average @ R205.83 needs to hold as support. R230.67 at the 61.8 fib level will act as short-term resistance.
Mr. Price bouncing off supportMr. Price 'very happy' in today's session, up an impressive 4.4% so far.
But how far can it go?
In its way, we have falling 50 and 200 day moving averages between R226 and R231 which may potentially limit further gains.
I'm monitoring these levels for a potential short
Support comes in around R205 on the daily chart.
Looking at the weekly, again there is support around the R205 area which also coincides with the 200dma.
A weekly close below these levels potentially opens up for further downside.
$JSE-MRPJSE:MRP
Flat bottom triangle, still not confirmed but once it does lots of downside possible
JSE:MPR Redistribution CompleteMr Price has been showing some weakness and was being redistributed. In a previous post I was too quick to call it but now we have seen a change of character. After a small pullback, we are looking for the TR to be broken and a markdown to begin.
Mr. Price at the 'mercy' of 200dma on the WeeklyLast week MRP released Trading Update which wasn't received well by the market, which took the price from last week's highs above R250 to current levels below R215.
Technically, looking at the weekly chart, we have a rising wedge pattern which has since broken to the downside, and now we have the 200 day moving average sustaining the price.
If the 200dma is breached, it could expose the R180/R185 area.
I'm monitoring for a Short once we close below that 200dma.
MRP Upward price channelJSE:MRP has been trading in an upward price channel for quite some time and it has broken through the mid line recently and is looking good to go upwards. Along with this, the stochastic has recently turned up through the 20 line and the two EMA's have crossed upwards.
I will look to enter around the 25000 level with a target around the 26200 level
Weekly bear flag break - Target 185Hindsight is 20/20, but looking at this weekly chart, it looks like a bear flag break on volume with a 185 price target.
MR Price Set to break above rising wedge formation Mr Price Rising Wedge formation– set to break to the upside
Strong support at R 240.00 (consolidations) …position for a brief pullback towards this level will support a long position for a break above R 260.00- Target of R 280.00 / 285.00
Mr. Price-Rising WedgeI'm seeing a bearish rising wedge on the MRP daily chart...
At the same time we have just seen a bullish golden cross involving the 50dma and the 200dma....
I'm bearish all the same!
