MCK a large cap medical supply company LONG
Updated
MCK is a large cap medical supply company- it has experienced respectable earnings reports
and steady growth as medical entities including surgery centers and hospitals are busy catching
up on electric surgeries from the COVID era. It is rising ar or under the second upper VWAP
line. The dual time frame RSI indicator ( by Chris Moody) shows that every time the faster
RSI ( 1 hour) RSI drops down to the 50 level it rebounds with a corresponding price move up.
These episodes are shown as thin black vertical lines. One of them is at present. The
forecasting algorithm of Lux Algo predicts a further rise to the level of 575 in the next six
weeks. The last earnings was quite solid with the next earnings in 4 weeks.
I will take a long trade here. I will add to the position for any dips to or below the
running EMA 9 but not reaching the EMA100.
I will take a partial profit at 560 and cut the position down to 25% the day before earnings for
purposes of good risk management. If price crosses under the running EMA100 I will
close the trade and collect the unrealized profit.
and steady growth as medical entities including surgery centers and hospitals are busy catching
up on electric surgeries from the COVID era. It is rising ar or under the second upper VWAP
line. The dual time frame RSI indicator ( by Chris Moody) shows that every time the faster
RSI ( 1 hour) RSI drops down to the 50 level it rebounds with a corresponding price move up.
These episodes are shown as thin black vertical lines. One of them is at present. The
forecasting algorithm of Lux Algo predicts a further rise to the level of 575 in the next six
weeks. The last earnings was quite solid with the next earnings in 4 weeks.
I will take a long trade here. I will add to the position for any dips to or below the
running EMA 9 but not reaching the EMA100.
I will take a partial profit at 560 and cut the position down to 25% the day before earnings for
purposes of good risk management. If price crosses under the running EMA100 I will
close the trade and collect the unrealized profit.
Trade active
MCK is sideways or slightly higher. Patient and full position.
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