MRSN
MRSN rangebound; swing traders will love thisEver since that crazy drop MRSN has been rangebound. As you can see, the channel can be split into two smaller channels. This is the ideal scenario to buy the bottom and sell the top. The Stochastic RSI is your best friend in this type of setup. If you are more conservative, wait for the candle to touch support and look for a bullish crossover on the RSI. That is your "buy" signal. However, as you can see from the vertical lines, every time the Stoch RSI crossed bullish the price went up, even if the candle was not touching support. The price move was smaller in those cases so you would have a little less profit. Any of these strategies would be lucrative here. Your risk is minimal because you can exit if the channel is broken to the downside.
Safe trades!
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***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
MRSN day trade opportunityI bought into this stock for a swing trade after the huge drop but was stopped out for minimal loss. I noticed it has been rangebound for a while so I started buying the bottom and selling the top of the channel. Reasonably lucrative so far. It broke outside of the channel so the pattern may have been broken. If it goes back into the channel I will start trading it again. This is the 15min time frame but I am using 5min, which can't be published due to small resolution. Safe trades!
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
MRSN re-testing v-bottom breakout necklineAfter breaking above the v-bottom neckline MRSN is now retesting the breakout level for the tenth time after the breakout. Given the fact that the price dropped 40% from the recent highs and that this seems to be a strong support level I am entering a trade tomorrow with a stop loss just below the neckline. Seems to be as safe a play as it gets.
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Trade Journal: Long $MRSN - 4/28/2020MRSN is right at the 52 week highs and forming a tight flag pattern . My plan was to get long above 9.50, clearing the HVN, with a stop loss below 8.48.
Entry - 9.52
Stop Loss - 8.48
Target - 12.50
I am planning on taking small profits above 10 and holding the rest with the trend.
