Long MPNice potential breakout expected. A tight stop should be put in place at about $28 - Always buy 50% first, then add to a full position.
M2PM34 trade ideas
$MP Long PlayHey folks,
I've outlined the key technicals on $MP's 3-month chart. I believe MP will be a key player in the race to supply batteries/other equipment with necessary lithium or other minable material. The race to electrifying all cars is fully underway and companies need to be able to keep up with demand, which will equate to more revenue for specific material-mining companies such as $MP.
$MP Interesting Volume Shelf @ 32 The price of this particular ticker is sitting ontop of a volume shelf at 32. Which could serve as a good entry for a long position. Options interest clearly favors calls at 67%
$MP making a triangle pattern$MP; I can see a triangle pattern happening on $MP. If it breaks the triangle from the top, the PT could be $36, $40 and $47
When will it break out?The red line is the weekly trendline and the green is resistance at $35.29.
Tomorrow and next week i'll be watching to see if it breaks above flag or moves down to the weekly trend line.
I believe it WILL break out, just a question of tomorrow or end of next week?
For tomorrow it would need to break strongly above $34.35 to signal the move upward. Ideally we see all the way past $35.29.
Otherwise, we are coming back to the red trendline and then the squeeze is strong next week.
I am a super amateur, do not trade based on my advice. Any good ideas are just luck at this point! :)
MP Flag SetupMP had a monster run and is now flagging on declining volume. The moving averages have had a chance to catch up and a breakout looks imminent. Adding this to the watch list. Will wait for confirmed breakout.
$MP Consolidating Big GainesOne of the stocks on my focus list is M P Materials. It been consolidating its massive 275+% gain for the last couple of months in a constructive pattern. Stocks puts in big size daily moves so size your positions accordingly.
M P Materials Corp (MP)- OWNS AND OPERATES RARE EARTH MINING AND PROCESSING SITE OF SCALE IN THE WESTERN HEMISPHERE.
MP go longTrading in reversal zone around MA50. Bull flag forming, and RSI curling upward. Build long position here
Pennant - could be a nice swing setup for a breakout playThe EV sector has cooled off a bit to reset RSI. A stellar earnings report and commensurate market reaction for TSLA this week could possibly fuel the drive up higher.
This name has been consolidating in a narrow range for the past month or so and per the chart, we can clearly see the pattern of a wedge as it is trading the bottom of the trend line. This could be a buying zone for a swing trade to test the upper trend line and as a bonus, if it breaks out, could attempt the 100% fib extension target at around $42. LONG
Bullish Pennant Possibly FormingI am long on MP in the short term. I see a bullish pennant forming this is because of the previous bullish movement, hopefully it breaks out and we see a PT of around 38-40. Let me know your thoughts!
Setting up for a run keep on watch Follow me for clean charts, we will be watching and wait for the breakout you have to wait for the breakout we will be looking for this to make a move back to old high after the breakout.
How to trade this and my trade idea around this will be covered in tonight's free trade idea webinar hit the link to sign up us02web.zoom.us
Consolidation - Cup formation. Long up to $45+Selling volume has decreased and chart has formed a nice cup. Above $42 takes us much higher. Super long on this name.
Short-term breakout in new long playWith recent rumors that China will look to limit exports of rare earths, MP will be bought in anticipation of future sales increasing as there are so few rare earths miners in the US or even outside of China.
MP is forming a strange looking arrow. Is it about to come out?I have seen same formation on FUBO TV as well. Let me know what you think?
trend channel doesnt lie if this trendline holds its ready for some shares/calls! good risk reward with a tight stop, long 33.5 stop loss 31 and price target 40, then 45 if 52w high resistance can break! goodluck to longs :) leave a like if you found this idea useful !
Great set up - bullish indicatorsMP has recently pulled back from its impulse high of $40. The 4hr chart is indicating a falling wedge pattern with good buying volume and MACD bullish divergence. May be a great entry point to test all-time highs.
