Looks like we could see a bounce off resistance and a return to the top of the price channel that this stock has been in for some time.
Like the idea if you agree.
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MMC is trading in a nice channel atop of a upward trend. Looking for $79.50 for a good entry point.
Target price is $83.75, pattern break out is $86.50. Bull flag/rectangle patterns are around 70% reliable.
How I saw a buy opportunity:
Stock price jumped off the support line I drew from 30OCT17 close price of $80.62.
Stochastic Oscillator (14,3,1) 3JAN18 had a crossover and moved above 20.
My 5SMA - 10SMA had a crossover on 3JAN18.
My play in the trading simulator game:
I was full of anticipation and bought too early.
On 2JAN18, I bought 700 shares at $81.65, one...
Playing Trading Simulator Game:
Price crossed green cloud in DEC/JAN.
Cloud changes from green to red in about 3 weeks followed by an earnings report.
The price has dropped drastically after each report the last two times.
Watch for now.
Marsh & McLennan Companies has been in a bullish trend since 2009. It has been on a quicker and narrower bull trend since the beginning of 2016. On multiple occasions through this trend, three of the technical indicators discussed below are at similar or higher levels, than they are now. These instances have resulted in short-term losses for the stock. I have laid...
When looking at the weekly chart of MMC the uptrend looks very linear. Since trading above the 200ma price only once returned to retest it in October 2011. Since then it has only broken the 50ma twice - more recently with the low of the flag in October 2014.
The figure $50 acted as a reasonable support - there was a small fake-out below this and the 200ma on the...
