MCPHY needs to find some energy here. We look to Buy at 12.58 (stop at 12.01)
We look to Buy at 12.58 (stop at 12.01)
We look to buy dips. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Previous support located at 12.60. The primary trend remains bearish. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 14.15 and 15.25
Resistance: 14.50 / 17.60 / 20.00
Support: 12.60 / 10.00 / 5.00
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