MWA Thoughstheres an orderblock of some sort up there and there going stop hunting. new highs incoming for this water powerhousse
MWA trade ideas
MWA (Endurance Stocks Portfolio) MWA (Mueller Water Products)
Portfolio: Endurance Stocks
Trade Price: $12.42
Shares: 202
This is a long term position. Long term trend shows strong and bullish, short term trend has been bearish and selling off over the past bit. The selloff has pushed the price down steadily until recently, showing increase in volume and interest from buyers. Tech Analysis shows the trend flattening out along with the increased volume and attention and sitting right on top of the 50% Fib level indicating that the 50% Fib will act as a solid level of support in which we're anticipating a larger bullish trend to begin using the 50% as support.
MWA downsideseems to be a common theme with the market wanting to turn around. something would have to happen at this point after seeing this direction. poor mwa one of the staples in my portfolio, love this guy. waters water man big supporter. sub $11 is almost certain at this point imo. $8 i am a buyer, if we see $5 ill be a buyer for sure, a wick down to the $4 range wouldn't surprise me.
MWA pull back. It can go up because:
1. The stock is in the channel. The support is around 10.86
2. Ehlers Smoothed Adaptive Momentum is in the green zone. That's mean that we have bullish momentum
3. MACD is bulish
Buy: 11.31
Stop Loss: 10.77
Target: 12.39
if you have any questions, let me know
Thank You
mwa boolishdid a fib, did some volumn profile looks. established lower high on the weekly. short side upwards, will see correction and then should break triangle
