Classical Fibonacci and Supply/Demand Trade setup.
Although analyst recommends buying MYE, and its true for long term, I still think it will go down retracing Fibonacci as this is in Supply Zone. Another reason to short is RSI indicated oversold for a duration of time.
In next few days I expect this to go down atleast until mid Jan after which it should rise as...
I have been following this one for quite a while. It's been outperforming the overall market and it's got good earnings and sales too.
The stock is currently trying to develop a "low-cheat" type of pivot. Unfilled gap above might need to be fill first before it gets going. NYSE:MYE
Thesis: With growth and inflation decelerating (Quad4) and our leading indicators slowing as well that means we want to be short Industrials. Within the Industrials sector the Rubber & Plastics industry was reporting contraction via ISM data. After screening for P/E and style factors like High Beta coupled with a strong long term price trend we added $MYE to our...
