Technicals:
With earnings past on this non-profitable company, I look to trade this bullish technical set-up in hopes that this is the end of the basing pattern.
(1) MACD Above Zero
(2) Anticipating that the shorter RSI will dip back up above 50 since we have pulled back to a support zone.
(3) 50 - 61.8% retracement
Target: About $9 within a 12 month period.
Comments: This company has not show a profit for over 10 years; however, it seems to me from my readings that this 2017 will be a better year for MATR. This is why there is a basing pattern. I believe it is in the accumulation phase.
With earnings past on this non-profitable company, I look to trade this bullish technical set-up in hopes that this is the end of the basing pattern.
(1) MACD Above Zero
(2) Anticipating that the shorter RSI will dip back up above 50 since we have pulled back to a support zone.
(3) 50 - 61.8% retracement
Target: About $9 within a 12 month period.
Comments: This company has not show a profit for over 10 years; however, it seems to me from my readings that this 2017 will be a better year for MATR. This is why there is a basing pattern. I believe it is in the accumulation phase.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
