I'm reading at the moment about the 4 stages stocks go through (ideally you want to buy at the start of a stage 2 rally). The current book is Stan Weinstein's one.
Anyways looking at Mayne Pharma, you'll note the trading range until the start of June has been getting tighter. Now it has broken above the trading range and looks set to hold. Not to mention the last few days have seen increasing volume, the MACD has gone positive AND it's broken above it's 200 day EMA. All these are good signs and this might be the start of a new stage 2 rally!
As someone else mentioned, the next resistance point is around 99c for those looking for a quick trade, but this one might have further to run over a longer period. The profit warning at the start of the year looked like a potential one off and the current forward p/e looks reasonable. The risk would be another profit warning being issued.
So from a fundamental and technical perspective it's looking good. I've dipped my toes in at 83.5c.
Anyways looking at Mayne Pharma, you'll note the trading range until the start of June has been getting tighter. Now it has broken above the trading range and looks set to hold. Not to mention the last few days have seen increasing volume, the MACD has gone positive AND it's broken above it's 200 day EMA. All these are good signs and this might be the start of a new stage 2 rally!
As someone else mentioned, the next resistance point is around 99c for those looking for a quick trade, but this one might have further to run over a longer period. The profit warning at the start of the year looked like a potential one off and the current forward p/e looks reasonable. The risk would be another profit warning being issued.
So from a fundamental and technical perspective it's looking good. I've dipped my toes in at 83.5c.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.