ENTRY: 6.53
SL: 7.41
TP1: 5.36
TP2: 4.81
- ADX>25
- Daily RS -ve
- Daily FFI -ve
- Weekly RS -ve
- Weekly FFI -ve
- Moving averages are aligned.
- Breakdown on 21 Apr 2022 with volume before going into range and pullback to 20EMA.
- 30-31 May 2022 bearish engulfing candle near 20EMA and then went below 10EMA on 1 Jun 2022.
- Entry based on today >3% rebound off...
We can go down more here but it's looking like a pretty good macro long here to catch the parabolic macro wave 3 that's coming in the future where prices will make new highs and go up expotentionally.
ASX:MP1
Has had broker upgrades recently, seems to be in favour after reporting season.
Hovering around POC, anticipate to bounce higher due to positive ratings from brokers. Also hugging the lower BB, should move up towards the mean.
Aggressive trade around the POC, taking a swing trade.
After buying some in earth June this year MP1 has formed a flag pattern over the last 3 months and has just broken above the pattern to the upside. Will look to add another (half stake) position with a price target of 10-15%
Technicals - bullish Flag , highest probabilty entry is bullish candle on volume spike above $18.
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History doesn't repeat but it rhymes
On that note, it appears that there's one more leg up before a correction
Strategy: Ride this leg up (Long), then with a rejection confirmation (short) down to the 61.8 fib retracement level.
1. The current triangle needs to be confirmed with another touch on the top line.
2. if (1.) is true, look to accumulate on the...
Couple of people had asked me for this so here it is.
Shows how you can create, import, filter and analyse using the screener, and export using big external lists of stocks as your source.
Shows how you can take a list of 200 or more stocks and filter down to the 5 or 6 you might be interested in trading.
In this case we take a list of stocks with breaking news...
MP1 broke out a weekly and daily S/R and has tested it. It is currently trading above the monthly pivot point in lower time frames. In H1 time frame, MP1 is offering a bullish setup.
The target could be recent previous highs at around 17.3 and stop-loss should at around 15.00. Multiple targets /Partial closes on the way to previous highs and beyond this level...
I think MP1 is good stock to hold.
I will rather wait for next opportunity to buy between $12.50 - $13.00 range.
Rather I chase the trade, I will prefer trade to come to me in my zone.
P.S: Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
3 Distinct tops and a 'broadening top' formation having me thinking this might tank soon despite it being forecast to have a few good years ahead.
It's also slipped below the 50 day which doesn't bode well.
Half yearly report due soon. See what happens then.
