MHB trade ideas
MHB - short term upside biasThe stock is riding major uptrend in parallel channel and currently is nearing support. With short term upside on Brent/WTI, there could be opportunity for entry. Stochastic is showing a possible reversal.
But remember, this is only for short term quick gain, and always adhere to cut loss if it break support.
R 0.455
S 0.425
Sentimen: Short term bullish Brent/WTI price
TAYOR
MHB - breakout cup and handle pattern ?In H4 chart, we observed a cup and handle pattern and a possible upside with TP 0.530 and support 0.390, with EP 0.425 for breakout confirmation. In H1, MACD showing a breakout signal with good RSI momentum.
EP 0.425
TP 0.460, 0.500, 0.530
SL 0.390
RRR 1:3
With Brent and WTI making good momentum, this could gives strong upside for energy sector, and eventually MHB.
The stock is considered among leader in O&G related Equipment and Services sector with a very small float (7% float of 1600M shares) compared to heavier KNM (33% of 2750M shares). This adds more speed to MHB’s move.
TAYOR
MHB - WAITING FOR BIG CANLDE O&G sector is the most industry that affected since before covid-19. However, since US now have change the new president that determine to increase oil price. So we can say, high probably Oil and Gas company especially downstream sector that provide services and maintenance will rise up.
MHB is one stock that i can say you may ride for mid term.
Forecast for a small bounce. MHB is the one leading company that involved in large sum of development in constructions. The pandemic was not really harm their managed cash flows, as the construction has been locked in deposit before proceeding.
The marine works is always will be the main source of economy demand in many countries. It will not only focused in one country to deal with this company (MHB). It's open to all country that willing to have a standard ISO engineering construction, and with reasonable price. ( Based from my oil&gas working experience.)
Back to market analysis, the trend seems not much in plunge. Perhaps the market will penetrate the weekly resistance, then the price will looking for new direction. I'm in long position with a minimal target profit.
MHB - Smart Money Successfully Removed Weakholder. Take Note!Strength in the chart:
1. Strength in the background
2. Gap down
3. Widespread upbars with high volume
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
