Bullish potential detected for MTS

Entry conditions:
(i) higher share price for along with swing up of indicators such as DMI/RSI.

Stop loss for the trade would be:
(i) below the recent swing low of 6th May (i.e.: below $3.21), or
(ii) a close below the 50 day moving average (currently $3.16), or
(ii) below the support level from the open of 11th April (i.e.: below $3.12), depending on risk tolerance.

Trade active

UPDATE (week ending 09-May): Trade activated 9th May with a swing up of DMI and RSI indicators, albeit on fairly low volume, which warrants a bit of caution. The share price closed above both 10 and 30 day MA's at the end of the trading week.

Note

UPDATE (week ending 16-May): Share price action formed a higher high and higher low during this trading week, with the share price successfully testing the 200 day MA during the week also. The daily chart suggests tightening the stop to slightly under the recent swing low of 15th May (i.e.: slightly below $3.26).

3 days ago

Note

UPDATE (week ending 23-May): Further respect of the 200 day MA was noted during the trading week, with a gap-up in share price noted on Wednesday that provides the opportunity to raise stops aggressively (if so desired) to slightly under the open of 13th May (i.e.: below $3.36 to, say, $3.34) to form a profitable stop in case of failure of the gap, or raise the stop to near breakeven just below the 200 day MA (currently sitting at $3.27). This trade is now considered a 'further bullish potential' trade.

Ivory_Wolf

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Ivory_Wolf

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