MFPC Short Hello Everyone,
Have checked this stock for a shorter term opportunity on the 4h tf. The stock seems was way way way over valued and made a huge run to the upside, then now is on the way down. This downtrend only tells that buyers are not that interested on this stock at those prices, along side those who made profits from the initial run up to the upside, which now closing their positions.
Now there are entities and individuals who would love to buy this stock at lower prices, thus it only means that the stock in itself is worth the money (based on the chart and not any fundamentals, as i dont read enough about companies nowadays).
The chart this time shows two different opportunities. The first one is long and the second one is short.
The long opportunity comes as poison in honey (as we Egyptians say), its a reversal trade and going against the trend thus the stoploss is so tight and the target is marked by the yellow arrow.
Now the short opportunity comes as free money laying around, waiting to be taken. There is a short price gap, which likely to be filled, then there will be a liquidity sweep @ 50.9. Then its on.
Do your own research, and find out if the company has any upcoming news that might move the price up or down, also remember to DYOR. This is a lucrative opportunity i think, but without reading about the fundamentals then its not worth it.
