Consolidation (Zigzag) looks done.
Great earnings
Good to Long
Goal is about 3R (4.5ATR(21EMA)). Risk is about 1.5ATR
Risk management is the most important.
$MTW has a chance of breaking long term downtrend line on earnings day 10/28/2019
$CAT reported horrible earnings today, Yet still bounced about $2 on Valuation, Heavy Equipment Sector May have found a Bottom.
MTW has an Inverse Head & Shoulders Pattern coming out of a 5 year low, & Has Broken out of the downward trajectory trading channel ahead of Earnings .
$MTW has a chance of breaking long term downtrend line on earnings day 10/28/2019
$CAT reported horrible earnings today, Yet still bounced about $2 on Valuation, Heavy Equipment Sector May have found a Bottom.
MTW has an Inverse Head & Shoulders Pattern, & Has Broken out of the downward trajectory trading channel ahead of Earnings.
It has not been easy for investors in MTW, with the price currently sitting at 1999 levels. Good news has been in short supply but maybe its close to turning the corner. It has fallen so much now there is no real need to jump back in, while fears of global growth still exist. The removal of trade war issues could well be the stimulus needed. We remain neutral but...
$MTW recently announced stronger than expected earnings and had the largest volume day in a year on Jan 31. This was the final flush needed clearing the way for a new uptrend and higher prices. $MTW was $44 a share in 2018 and is now sitting near $17 offering an attractive entry point. I am entering long today
Looking at the weekly chart we see MTW has dropped down very near the bottom of its range dating back to 1996. And even with the support level from 2012. more recent price action saw a breakout above the resistance of the last 30 days. I'm in long aiming for a modest target of $40. Good Luck and Happy Trading!
Here is what I think is happening.
MTW is in a inverted cup and handle pattern, with the initial handle under formation (or perhaps a bigger cup is in formation).
1. Its currently in the process of short term over bought, not quiet there yet based on OBOS levels. I could be wrong and the 30.00 price is the resistance that it has hit and continue the down...
This is not a analysis or strategy, i post this bc i notice that on tradingview the price in 2007 says 160$ per share when i check yahoo finance or tc2000 they say 45$ in 2007
MTW is printing a bullish candlestick over candlestick price bar on heavier above average volume right above its 50 DMA with my momentum/trending oscillators confirming the price move. I am going long MTW Tuesday morning using a limit (GTC-BUY-LMT) order @ 40.64. I will have two trailing sell stops (GTC-SELL-STP) @ 38.79 and 37.03 to protect my initial invested...
Based on the MACD's recent buy signal, and the STOCH and the RSI going up (as well as the AO doing a reversal, and the Aroon doing a cross)
Trade Safe!
