MCRB - Breaking out of triangle ?MCRB - Finally breaking out if this triangle ?
We can count a potential Leading Diagonal wave (i) on the 15min with a deep 3 waves corrective wave (ii).
A move below 24.36 would invalidate this view.
MCRB
MCRB Triangle Symmetrical Top (bullish)I found this pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 88%
TARGET (EXIT) PRICE = 34.49 USD
BREAKOUT (ENTRY) PRICE = 28.53 USD
DISTANCE TO TARGET PRICE = 18.93%
EMERGED ON = Sep 10, 12:00 PM (EDT)
CONFIRMED ON = Sep 29, 10:10 AM (EDT)
WITH CONFIDENCE LEVEL = 100%
The Symmetrical Triangle Top pattern forms when the price of a security fails to retest a high or low and ultimately forms two narrowing trend lines. The price is expected to move up or down past the triangle depending on which line is broken first. The price movement inside the triangle should fill the shape with some uniformity, without leaving large blank areas.
This pattern is commonly associated with directionless markets since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).
Trade idea
Once price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the breakout price level. To identify an exit, compute the target price by adding the pattern height to the breakout point. The pattern height is the difference between the highest high and lowest low within the pattern.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
Head & ShouldersOffering was at 21.50 & 20.85. Im expecting a 20% pullback before we see a bounce off the 20 support. Very overbought on high time frame 3 hr candles.
MCRB 32% target and 80% max targetMCRB has printed a bullish candle
First short term target at 32% increase
Max target at 80% up
Good luck and thank for the likes and Thumbs Up
Tepi sikit keretapi nak lalu !HSR going to revived soon, says the business insider. You believe that ? Have faith in your own trading style because either it is true or false there's hope, there's chance, there's opportunity every each of the time and day.
High Speed Railway is project introduced by the previous government, Pakatan Harapan that linked together with the project of Bandar Malaysia (KL-Singapore)((If im not mistaken)). FYI, this bandar Malaysia site's has been announced and declared to located in the Sg. Besi as like 'Bandar Wawasan' if you going through the highway of sg. besi heading out of the KL to Bangi/Kajang.
Ok let get this roughly, MCRB is one of the related counter involve with the HSR Project. Technically, as per date of 22 May 2020 MRCB closed at RM0.53.
With this fresh from oven news, tommorow likely KLCI to jump into GREEN again ! Expecting the counter to raise to TP1 of RM0.59 as investor start to believe and since the construction project going to continue during this PKPB.
Entry Price = 0.53
Resistance = 0.55
Support= 0.530(same)/0.49
TP= 0.58/0.60
Other related counter akan menyusung seketika kemudian...like
1) HSSEB
2) GKENT
3) GADANG
4) EKOVEST
5) IWCITY
6) WCT
7) ECONBHD
The rest sector that have a good momentum
1) Healthcare
2)Plantation
Can try try bodek sikit sector
1) Technology
2) Industry Equiptment
Just POV of mine, not a buy or sell call ya... Selamat Hari Raya AidilFitri Maaf Zahir dan Batin ! Mohon maaf kalau ada kesilapan dan juga kecurangan data dalam process memberi idea ! Semoga berjaya dan maju jaya !
MCRB - Falling wedge breakout Long from $10.87 to $12.77 MCRB broken out of a falling wedge formation & now breaking out of its resistance zone. We think it will continue upward from here.
* Trade Criteria *
Date First Found- June 20, 2017
Pattern/Why- Falling wedge breakout continuation Long
Entry Target Criteria- Break of $10.87
Exit Target Criteria- $12.77
Stop Loss Criteria- $9.87
Please check back for Trade updates. (Note: Trade update is little delayed here.)
NEXT WEEK'S "SHOPPING LIST" -- FEYE, ANFI, FIT, RTRX, MCRB(?)With broad market volatility abysmally low (VIX <12), it's a game of hunt and peck for "diamonds in the rough" in terms of premium selling.
For the most part, I'm looking for sub-$20 underlyings here with high implied volatility for either selling naked puts (bullish assumption) or initiating covered calls where the purchase of the stock, combined with selling the first out-of-the-money call 30-45 DTE, will yield at least a 10% ROC if the stock is called away at the short call strike.
The reason why I'm sticking with particularly low priced underlyings is (a) I don't want to tie up a bunch of buying power on these short-term (basically) engagement trades; and (b) don't want to take a lot of risk on dollar and cents wise. The max loss you can experience with an outright stock purchase, a covered call, and/or a naked short put is the risk associated with the stock going to "0"; less room to fall equals less room for loss. Additionally, the reason why I'm going covered call/naked short put over a short strangle/iron condor (my standard go-to's) is because you simply cannot get enough premium out of a short strangle or iron condor to make doing those on these low-priced underlyings worthwhile with those kinds of setups.
With all that background in mind, here's what I'm looking at:
FEYE: It announces earnings in a few days here, but the metrics are good enough to either go naked short put or to just dive right into a covered call. (Covered Call: 100 shares at 17.42; Sept 16th 18 short call for 1.54 credit; whole package, 15.95 debit; max profit 2.05 ($205); ROC 12.85%; Sept 16th 16 short put: 1.05 cr at the mid).
ANFI: I've never played this little specialty foods company before. (Covered Call: 100 shares at 7.11; Sept 16th 7.5 short call for .75 credit at the mid; whole package, 6.70 debit; max profit .80 ($80); ROC 11.94%). This isn't the most liquid thing in the world, so whether the package is as "sexy" as it is in the off hours remains to be seen.
FIT: This is a one trick pony, and I generally don't like one trick ponies; nevertheless, I'm glad to ride a one trick pony for a little bit if the premium is there. (Covered Call: 100 shares at 13.66; Sept 16th 14 short call for 1.23 credit; whole package 12.37; max profit 1.63 ($163); ROC 13.18%).
RTRX: Another high volatility biopharma stock. I'd rather be put at $12 a share than $15, but the underlying is afflicted with odd-ball, $2 1/2 wide strikes to work with, so it's either 12.5 or 15 short put, if you decide to take that path. (Sept 16th $15 short put goes for 1.52 ($152) at the mid; Covered Call: 100 shares at 17.93; Sept 16th 20 short call for 2.30; whole package: 16.20; Max Profit: 3.80 ($380); ROC 23.5%). Unfortunately, the first short call strike above current price is at 20, so the underlying will have to move from 17.93 to 20.00 for you to get called away, so this might be a longer term sort of play than the others due to the short call's distance from current price.
MCRB: This thing has tanked mightily, due to lackluster trial data on one of its drugs. There are other drugs in the pipeline, but the question is whether its losing some 70% of its value on Friday is a buying opportunity or the start of a long death spiral. Currently, I'm unable to get pricing on puts below the underlying's current stock price, so I'll have to take a look at it at market open.
