MR D.I.Y GROUP (20-DECEMBER-2020)Since its IPO, the stock has been increasing steadily and moving within an uptrend channel.
The price just penetrated above a upper flat trendline of ascending triangle and the trend is expected to continue to rise with some healthy pullbacks.
EP: 3.2
Next R/ TP:
• 3.315 of upper uptrend channel (coincides with 100% FE & ascending triangle target)
• 3.67 (168% FE)
Support:
• 3.095 (flat trendline of ascending triangle)
• 3.055
Risk and Reward - 0.115: 0.105 or 1:0.9
Note: This trading idea is for educational purpose only and not to be construed as a buy call. The mantra of TAYOR and caveat emptor shall apply.
MRDIY trade ideas
MRDIY - UpdateAs posted on Nov 20, MRDIY is edging higher to our target level at 2.8. We will take a close look at this level for continuation or reversal.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
MYDIY - Bullish continuationMomentum building up seen on MACD histogram coincide MACD buy signal above zero level. Our view is still Bullish as the stock is trading above the uptrend line, breaking a Pennant with a strong Bullish candle as continuation buy signal. The stock could be reaching Fibonacci resistance at 2.79 before making the next correction/reversal.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.