MRU Weekly Look - People Gotta Eat!
Updated
Pretty simple long setup on the weekly. We had a hammer close and RSI (5) shows extreme oversold. We can see a similar candle on the week of June 20th, which then lead to 4 straight green weeks. I don't expect much more downside for #MRU from this point. I have a short term target of 45.15 and 46-48 long term. There is a lot of open interest for the October 16 46 calls and 48 calls.
Note
The beauty with stocks that have a low beta is that they do what they should be doing. TA trumps all with these. :) Most likely a test of the resistance (1) next week with MRU.Note
Looks ugly right now but I still think we get a retest of the 45-ish resistance by the end of October.Note
45$ is still the goal.
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