MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services, which reduce medical costs through data-driven algorithms that detect claims over-charges and recommend or...
MPLN has formed a large descending megaphone with touches along the bottom line the only bullish area on chart From this we can conclude once the current bear move finishes and a touch on the lower line is hit the bulls will come back briefly, against the trend This is shown in the green circles Red arrows for emphasis
A reward/risk above 3 is generally considered a good trade by smart money. A r/r above 6 is rare and I always take those trades. This might continue to find new lows and stop me out, but the risk is minimal compared to the possible reward at this current entry. I'm still bearish on the overall market for the coming months, but a short term bounce is quite possible...
MPLN will need more confirmation of the test for me to become long-term bullish. Currently 55% bullish 45% bearish
Three weeks ago insiders started buying and they scheduled a stocks repurchase program. Check daily for more confirmation. Logical swing trade opportunity.
Stock has been consolidated and wants to break out of the wedge. RSI oversold at 38 MFI way oversold with bullish divergence. Stoch oversold and about to enter momentum area MACD oversold and histogram about to turn over. ER on 3 March. I would give a short term price target of $8.40.
NYSE:MPLN $9 - Take 50% Profit $12 - Take all
I have not taken a position on $MPLN given I like fast growth stocks, however this looks quite interesting. This stock has recently been institutionally shorted and in a way kind of hammered by a small blog/activist firm. Now, $MPLN is about to release earnings extra early tomorrow. This might be a good buy entry opportunity. I do think a possible short squeeze...
Great company as you look at there financials and see what they are about. Chart looks down right now and could be trading sideways as a good entry point.