when you correct 55% from your highs, you need time to build that base. That's what $MP is doing.
She is getting there.
Failed a breakout attempt early August and is now trying to base again with rectangle trading range under 50 MA.
Not ready yet but one to continue to watch.
MP has been doing well in the past weeks while the small-cap stocks market notably SPACs were beaten down to disappointing prices. Now that there is less than a week to the QE2 results the price is at a pivotal level. There are resistance levels around $39 and $41, which can be broken if $MP reports impressive results as they have done it after their SPAC merger...
In this chart you can clearly see the trading range MP is oscillating in. Once we are breaking above the Fib 0.5 with a closed daily candle above it's a confirmation of the completion of the C&H and a clear break out. And from there I would scale in more for a long position. If earnings are okay, we stay within the pink line and oscillate as this is the new channel.
I
Well, it seems like...
Multiple signs suggest that we are going to break-out soon.
These signs are: MACD cross, no rejection at the resistance, price above the 2 EMAs.
The only concerning thing is the RSI, it is almost overbought. I think it needs to consolidate for awhile (2-3 days) before it start a new leg up.
Stop loss: below 30.07
Resistance: 35.45, 38.29
looking for a strong rally in this name through the rest of 2021. Everyone and their grandmother wants to make an EV. You need a ton of rare earth minerals to build those induction motors. China & Biden administration even worse relations. Good luck getting your magnets from Shyna 🤙🏽
$MP, the rare earth materials company, has reported great quarterly reports in the past year, and this year that proves it is pacing firmly to become a very sound investment in the course of electrification and the global clean energy campaign. After a 55% decline, the price became ripe for a good entry if you missed the train in the first place or add to an...
MP is definitely in oversold territory. Lowest RSI since around $12 price. Today it bounced off the weekly long term trend line and support from 12/24. Would really like to see it stabilize tomorrow and head back towards $30.
American rare earth materials supplier. The stock's getting a buzzcut, too expensive vs. sentiment atm, but hey nothing's cheap today, and if you're driving an EV in the next couple years, you're rig needs hella strong magnets to efficiently propel that induction motor.
I think it ricochets somewhere off $18-20 then somewhere in the $40-$60 come September. Bull...
nice little support one area, good risk reward if you enter with tight stop loss, long 30 stop loss 26 price target 37-40! goodluck, dont forget to like and follow if you enjoy my ideas <3
