Nov. 14 at 3:55 AM
$MP Trade Plan:
Market Context:
$MP is currently trading at
$57.54, significantly below its 60-day high of
$100.25 and above its low of
$50.5, indicating a bearish trend. The RSI of 33.01 suggests that the stock is in oversold territory, which may indicate a potential reversal.
Directional Bias: Given the RSI below 30, there is a possibility of a short-term rebound. However, the moving averages (MA30 at 69.98 and MA50 at 69.2) are both above the current price, reinforcing a bearish trend. The ATR of 4.78 indicates moderate volatility.
Suggested Entry: Consider entering a long position around
$57.54, with a stop loss set at
$53.00 to manage risk.
Targets: Set the first target at
$62.00, which aligns with a potential resistance level, and a second target at
$65.00, near the MA30, should the price continue to recover.
For more insights, visit https://privateprofiteers.com.
https://privateprofiteers.com
