MITK Detected possible increase in guidance!!!MITK: mitek systems inc
2018-05-01 16:05:33
Detected possible increase in guidance
0K1W trade ideas
MITK- short from 7.85 to 6.33With the recent insider selling along with overall technical weakness, we took a short position on MITK. We also took Sep16, & Jul16, 7.5 put.
You can check our detailed analysis on MITK in the trading room link here-
Trade Suggestion Date: 6/7/2016
Trading Room - Executive summery link: www.youtube.com
Time Span: 12:40”
Trade Open: 6/8/2016
Trade Close: Running
A Bullish looking MITK is now testing Resistance...Its a nice Bullish Pattern, however from mid February the uptrend is steep ! The same uptrend can be seen from the 2nd of November 2015, resulting in a 65% retracement, which began to form the weekly Trendline Support. The difference this time is we are at a stronger Resistance area. (grey shaded horizontal) A Pullback in inevitable, and my idea is that it will be around this Resistance area. A break above is a Buy signal, as is a Pullback to the Trendline support. A Break & Hold below the TLS on the Daily could suggest more Downside is on the cards. I will be waiting for the Breakout or the Pullback before i get in Long..
$MITK - Bullish trend This bull is fighting to go higher after breaking through multiple resistances.
MITK Long: Bat Complete at 100 Day EMA SupportMITK has completed a bullish bat in a with a PRZ that is confluent with support from the 100 day exponential moving average. To add to bullish bias, 2 missed weekly pivots sit above price. Entry is placed at the bottom of the PRZ with target at the missed weekly pivot from 12/14.
Confluence in the PRZ:
Bullish bat
2AB=CD
2.272BC Projection
EMA100 Support
Bullish MACD Divergence
S/R Zone
Missed weekly pivots above price
