MPWR: Sort opportunityAn intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
M2PR34 trade ideas
MPWR - PutsMPWR has been on a long steady up trend for years now. It hit some major resistance at 150 and fell below the 50 DMA. We need to be careful with this one since we are fighting against the long term up trend. I'm looking at entering puts around 140 with a SL at around 146-148. This could easily regain momentum and go back up, but offers plenty of space to fall back towards 125-130. The MACD on the 30 min shows a great bear set up forming.