MVP broke out of a short-term bull flag on strong volume today. The pattern has a target near $5.80, which is also where resistance is expected to be found as it was a strong pivotal point during the Distribution phase back in mid-2016. The move today could also be the start of the Sign of Strength as it moves out of the 9-month long Accumulation trading range but since it's a long-term pattern, it would be more bullish if it has a weekly close above this range (~$5.50).
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.