Didn't want to draw this one out .... However I will mention the current pandemic scare (#coronavirus ) might prevent this breakout from materializing. #cupandhandle $MITK
MITK is forming a possible flag formation. It also seem an advance fallen angel formation.
We think it has good upside potential and it can be a momentum continuation trade.
* Trade Criteria *
Date First Found- May 6, 2018
Pattern/Why- Possible flag formation, advance fallen angel formation
Entry Criteria- Current Levels ($
Exit Criteria- 1st Target $9.70; 2nd...
With the recent insider selling along with overall technical weakness, we took a short position on MITK. We also took Sep16, & Jul16, 7.5 put.
You can check our detailed analysis on MITK in the trading room link here-
Trade Suggestion Date: 6/7/2016
Trading Room - Executive summery link: www.youtube.com
Time Span: 12:40”
Trade Open: 6/8/2016
Trade Close: Running
Its a nice Bullish Pattern, however from mid February the uptrend is steep ! The same uptrend can be seen from the 2nd of November 2015, resulting in a 65% retracement, which began to form the weekly Trendline Support. The difference this time is we are at a stronger Resistance area. (grey shaded horizontal) A Pullback in inevitable, and my idea is that it will be...
MITK has completed a bullish bat in a with a PRZ that is confluent with support from the 100 day exponential moving average. To add to bullish bias, 2 missed weekly pivots sit above price. Entry is placed at the bottom of the PRZ with target at the missed weekly pivot from 12/14.
Confluence in the PRZ:
Bullish bat
2AB=CD
2.272BC Projection
EMA100...
