MVMD — Target of shoddy short hit piece by anonymous SA author
Updated
This is a very similar setup to my earlier EXRO call where an anonymous author calling him/herself “Mariner Research Group” put together a shoddy “short thesis” that was quite frankly garbage. It would not surprise me if this “Night Research Group” is the exact same person. Same quality of work, same hastily put together WordPress website with no contact info other than email and no names of who is behind it. Same terrible track record where none of the previous price targets have been reached. Same low follower count.
From the technical perspective, MVMD is oversold on the hourly and is approaching oversold territory on the daily chart . .95 gap was filled and support was found at the .96 Fibonacci line. If support holds, it will start forming a bullish Double Bottom pattern. There’s also a gap at 1.10 up above. Decent risk/reward but stop loss is not a bad idea, IMO.
From the technical perspective, MVMD is oversold on the hourly and is approaching oversold territory on the daily chart . .95 gap was filled and support was found at the .96 Fibonacci line. If support holds, it will start forming a bullish Double Bottom pattern. There’s also a gap at 1.10 up above. Decent risk/reward but stop loss is not a bad idea, IMO.
Trade closed: target reached
Booked profits.
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