MVMD Chart - Bullish Falling WedgeI've been watching this chart since January, and have been tracking the upper and lower trend lines during that time. If you set your chart to 1 day interval, and look at the 4 month, a clearly defined bullish falling wedge can be seen with a rapidly tightening range. I theorize we'll see an imminent breakout. I hold a position in this stock, and have been adding at the pullbacks. Would love to hear feedback and thoughts.
MVMD trade ideas
MVMD — Target of shoddy short hit piece by anonymous SA authorThis 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.