MCC is in our watch list from quite a while. After a huge fall it made a base and suddenly broke out on huge volume. It has lots of divergence in the Money flow. Though it had a big run already, it still can be a good Long opportunity from current level if the market is positive. For the conservative trader it would be good idea to wait till it breaks it MA line...
MCC looking a very good long setup. It is building some solid base & some reasonable close recently. Moneyflow also going up strongly. We think if it breaks up from here it has good upward potential.
* Trade Criteria *
Date First Found- June 15, 2017
Pattern/Why- Fallen angel formation.
Entry Target Criteria- Break of $6.36
Exit Target Criteria- 1st Target...
The management recently purchased millions of dollars worth of shares. Zack's Rank indicates a strong sell. In case this is close to the bottom, there could be some positive risk/reward. So far I was not too successful in predicting bottoms.
The a and b wave pattern happens every quarter with a stronger downward impulse to reach point a then the correction is almost retraces the downward impulse in the middle of a and b. Downward impulse toward a is happening. Let us wait and buy at the bottom on around March 8 an sell after the correction!