ENTRY: 3.76
SL: 3.59
TP: 3.85
- ADX>25
- Daily RS +ve
- Daily FFI +ve
- Weekly RS +ve
- Weekly FFI +ve
- Moving averages are aligned.
- Breakout on 18 Aug 2022 and retraced to resistance-turned-support (3.61) before rebounding off today.
- Entry today based on breakout (from high on 11 Jan 2022) and >3% rebound off 10EMA with volume.
MPL
- First time doing a written analysis on MPL
- Over the last 6 years, the stock has been trading within 2.40-3.60 levels
- Stock is currently trading near all-time high regions -> A successful breakout has a potential to see the stock fly
- Price consolidation over the last 2 weeks to test the short-term support looks like a breather before testing the last...
MPL may have finished its retracement and may be ready for an up move. As it has bounced off from my Buy Zone, coupled with High Volume, I think it is preparing to move up towards the previous Highs.
TP1 - $3.00
Stoploss - $2.60
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Bullish Trend Indications:
The chart of MPL has developed well, indicating that the Bear trend has finished and after price hitting Resistance, it is trying to pull back. The downtrend line has been broken decisively with good Volume and has hit Resistance. It has also developed a Golden Cross.
We can clearly see that while price had been moving higher, OBV has...
Medibank Private testing March low at $2.45, after going ex-div last Wednesday.
This week using TD Sequential, we are seeing a 9 on the weekly and yesterday the daily is giving us a 9 us well.
Could this be the bottom for Medibank private?
Stop loss at $2.45.
Company Profile
Medibank Private Limited (MPL) core business is the underwriting and distribution of...
Will be watching closely over the next few days. If that bearish engulfing is confirmed with a print below 3.01, I will likely short. Indicators are flashing overbought, divergences in RSI and MACD. Will update if trade fires and I can find shares to short. :P
ASX:MPL closed above the 55MA for 2 consecutive days. CMF has been neutral for the past week - hints of accumulation - prices were moving sideways. Volume is rising and this is positive. We have a few hurdles to clear from between $3 up to $3.17.
As TK has crossed below the cloud, this signifies a weak bullish sentiment, but it is a first step we need to take...
A potential to long for short to medium term trade if prices hold above 2.90. prices target and other support and resistance are marked on the chart. Good luck
