MRU
MRU Weekly Look - People Gotta Eat!Pretty simple long setup on the weekly. We had a hammer close and RSI (5) shows extreme oversold. We can see a similar candle on the week of June 20th, which then lead to 4 straight green weeks. I don't expect much more downside for #MRU from this point. I have a short term target of 45.15 and 46-48 long term. There is a lot of open interest for the October 16 46 calls and 48 calls.
H&S, nice buying opportunity?Pretty clear cut Head & Shoulders pattern here that has now created an interesting buying opportunity. At least for the short term. MRU has now hit the top part of its first support range and bounced off it as convincingly as it did in late June. Interesting setup right now.