Entry: when price clears 130.69
Volume: with daily volume greater than 594k
Target: 140 area
Stop: Depending on your risk tolerance; 127.59 gets you 3/1 Risk/Reward.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not...
Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments, Homebuilding and Financial Services
Positive:
Yields high return on invested capital
Consistently increasing earnings per share
9 analysts have revised their earnings upwards...
MTH weekly chart looking extremely bullish so far with a bull flag breakout and next leg up continuation implying a move to
1st target - 130
2nd target - 145
depending on breakout out to ATH and 124 zone resistance
First cup and handle pattern I have drawn out. Would love some feedback. The setup looks great plus MTH is a great value buy with a DCF fair value of $202. I think it can hit at least 140 in the coming weeks with a lower estimate of about 120 if the handle retraces 2/3 of its advancement.
Description: MTH is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position.
Stats:
1. Ideal buy range: $103.2 - $108.3
2. Take profit: $132.93
3. Stop Loss: $101.31
4. Risk To Reward: 1 / 5
5. Accuracy Rating: 93%
MTH has managed to get caught in a small rising wedge after a long fall from a larger rising wedge. Seems to have recovered and ready to move again.
I calculated the targets using the AB leg. This is the impulse wave and just seemed like a lot but it is 51.30 long! I will play it by ear and see how the market plays out. We have had a several up days in a row...
MTH Showing strength even when the market is correcting, now the price has confirmed the " Double Bottom" pattern and I have finished buying MTH.
MTH buy : $108
MTH target : $135
Stop loss : $102
Wish you a good deal!
MTH seems forming a H&S in the hourly chart and in the daily its running within a upward channel. We think it has good down side potential.
Trade details - Potential short with a break of 53.87, Stop signal 55.56. Target 45.56, 2nd target: Momentum
