MPLN – 1H Long Trade Setup!📌
🔹 Asset: MultiPlan Corporation (MPLN)
🔹 Timeframe: 1-Hour Chart
🔹 Setup Type: Symmetrical Triangle Breakout Long Trade
📌 Trade Plan (Long Position)
✅ Entry Zone: Above $29.27 (Breakout Confirmation)
✅ Stop-Loss (SL): Below $28.63 (Break of Support & Trendline)
🎯 Take Profit Targets
📌 TP1: $30.03 (First Resistance Level)
📌 TP2: $30.97 (Final Target – Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📈 Risk (SL Distance): $29.27 - $28.63 = $0.64 risk per share
📈 Reward to TP1: $30.03 - $29.27 = $0.76 (1.19 R/R)
📈 Reward to TP2: $30.97 - $29.27 = $1.70 (2.66 R/R)
🔍 Technical Analysis & Strategy
📌 Symmetrical Triangle Breakout Setup: MPLN is consolidating within a symmetrical triangle, with a breakout at $29.27, suggesting a bullish continuation.
📌 Trendline & Support Bounce: The price is bouncing off the lower trendline, confirming buyer strength.
📌 Breakout Confirmation: A strong bullish candle above $29.27 with increasing volume would validate the breakout.
📌 Momentum Shift Expected: If price holds above $29.27, a rally toward $30.03 (TP1) and $30.97 (TP2) is anticipated.
📊 Key Support & Resistance Levels
🟢 $28.63 – Strong Support / Stop-Loss Level
🟡 $29.27 – Entry / Breakout Level
🔴 $30.03 – First Resistance / TP1
🟢 $30.97 – Final Target / TP2
🚀 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure strong buying volume above $29.27 before entering.
📈 Trailing Stop Strategy: Move SL to entry ($29.27) after TP1 ($30.03) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $30.03, let the rest run to $30.97.
✔ Adjust Stop-Loss to Break-even ($29.27) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If price fails to hold above $29.27 and breaks down, it could indicate a false breakout—exit early.
❌ Wait for a strong candle close above $29.27 for confirmation before entering aggressively.
🚀 Final Thoughts
✔ Bullish Setup – Holding above $29.27 could lead to higher targets.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.19 to TP1, 1:2.66 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀🏆
🔗 #StockTrading #MPLN #MultiPlan #BreakoutTrade #TechnicalAnalysis #MarketTrends #ProfittoPath #DayTrading #MomentumStocks #SwingTrading #TradingView #LongTrade #TradeSmart #RiskManagement #StockBreakout #Investing #StockAlerts #ChartAnalysis 🚀📈
