The stock already break out of the consolidation range and the trend line.
Initiate a long position 0.58
Stop below the consolidation 0.48
Take profit at 0.765
Price been traded in phase D with minor sign of strength and currently price at last point of support with low volume.
Im expecting a rebound from this level.
Flag formation forming above ma 200, it's now on the critical support (0.415).
Trading plan:
Ep: 0.415-0.4
Sl: 0.385
Tp 1: Top of the flag at 0.49
Tp 2:Critical rst at 0.62
The stock is riding major uptrend in parallel channel and currently is nearing support. With short term upside on Brent/WTI, there could be opportunity for entry. Stochastic is showing a possible reversal.
But remember, this is only for short term quick gain, and always adhere to cut loss if it break support.
R 0.455
S 0.425
Sentimen: Short term bullish...
In H4 chart, we observed a cup and handle pattern and a possible upside with TP 0.530 and support 0.390, with EP 0.425 for breakout confirmation. In H1, MACD showing a breakout signal with good RSI momentum.
EP 0.425
TP 0.460, 0.500, 0.530
SL 0.390
RRR 1:3
With Brent and WTI making good momentum, this could gives strong upside for energy sector, and eventually...
O&G sector is the most industry that affected since before covid-19. However, since US now have change the new president that determine to increase oil price. So we can say, high probably Oil and Gas company especially downstream sector that provide services and maintenance will rise up.
MHB is one stock that i can say you may ride for mid term.
