Medlab Ascending Channel(ASX:MDC) Medlab Clinical Ltd is an Australian, publicly listed biotechnology company that is finding new ways to address the biggest challenges of our time including the growing burden of cancer, suboptimal pain management as well as enhancing drug delivery with nanotechnology.
Bullish Outlook:
- Ascending Channel
- Internal Uptrend
- Bounce off RSI 50.00
- MACD crossing Bullish
- Testing Daily Resistance
- Positive Product Announcement
Looking to see if price will break upper band of Ascending Channel and test former Resistance levels which align with TB Fib Extension Targets (1.), or will price consolidate for a short time before it breaks Daily Resistance after retesting Internal Uptrend Trendline (2.)
Bearish Outlook:
If Internal Uptrend Fails then a return to Daily Resistance and Lower band of Ascending Channel is likely, If it is to fail then there are 2 levels of former Support to watch (3.)
"DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
MDC trade ideas
Flag attack?There is a nice bullish flag!
Last week we dipped down to the flag body`s bottom edge and kissed the EMA 200 there. Buyers came into the market here!
There are clear tradingmarks now:
1. Anticyclical Counter trade: Entry now, sl ~ 0,65 (near below the last low=flag Bodys bottom edge) and TP 0,9 = flag Bodys upper edge
2. Procyclical Breakout-Trade: entry>0,9 TP= 1,20
3. BreakOut short entry < 0,65 TP 0,45-0,5 SL 0,7
