Matterport, Inc.Long
MTTR PLAY Study Group February 3
Charted this out from Study Group on February 3. I knew this ticker from hearing Stu mentioning it in trading chat. The reason it caught my eye is when we started talking about the price action and thinking of a simple trade. We noticed that $8.10 seemed like a safe area to enter the trade and we notice support around the $8.10 area because it consistently would go up when it tested this key level. If you were patient enough you could have seen the dip to the 7.60 level, but it did not last long and was bought up back to the $8.10 area.
There are a few key levels you can see. All the green lines are areas to take profits depending on your trading plan. One thing I have noticed from watching this from February 3, it IPO in July, and the price action was below IPO and we noticed a loading zone in that purple consolidation zone. A pattern I noticed after a downtrend consolidates for about 22 days and breaks out to the higher side. I cloned the vectors from the previous run and looking for this to close above 9 and towards its test of 10. If it clears $10 it can go back to a loading zone for another rip back to IPO levels.
Depending on a scalp, swing, or long play, I see an opportunity with this stock if you have a trading plan for it. I like the price action on the volume profile gaps.
I looked at their site, and their pricing for a subscription plan is not bad. As a Realtor, it can be a great tool to win over clients vs other listing agents and set you apart by showing them you have a tool to market their home that others might not.
There are a few key levels you can see. All the green lines are areas to take profits depending on your trading plan. One thing I have noticed from watching this from February 3, it IPO in July, and the price action was below IPO and we noticed a loading zone in that purple consolidation zone. A pattern I noticed after a downtrend consolidates for about 22 days and breaks out to the higher side. I cloned the vectors from the previous run and looking for this to close above 9 and towards its test of 10. If it clears $10 it can go back to a loading zone for another rip back to IPO levels.
Depending on a scalp, swing, or long play, I see an opportunity with this stock if you have a trading plan for it. I like the price action on the volume profile gaps.
I looked at their site, and their pricing for a subscription plan is not bad. As a Realtor, it can be a great tool to win over clients vs other listing agents and set you apart by showing them you have a tool to market their home that others might not.
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