MHB - breakout cup and handle pattern ?
In H4 chart, we observed a cup and handle pattern and a possible upside with TP 0.530 and support 0.390, with EP 0.425 for breakout confirmation. In H1, MACD showing a breakout signal with good RSI momentum.
EP 0.425
TP 0.460, 0.500, 0.530
SL 0.390
RRR 1:3
With Brent and WTI making good momentum, this could gives strong upside for energy sector, and eventually MHB.
The stock is considered among leader in O&G related Equipment and Services sector with a very small float (7% float of 1600M shares) compared to heavier KNM (33% of 2750M shares). This adds more speed to MHB’s move.
TAYOR
EP 0.425
TP 0.460, 0.500, 0.530
SL 0.390
RRR 1:3
With Brent and WTI making good momentum, this could gives strong upside for energy sector, and eventually MHB.
The stock is considered among leader in O&G related Equipment and Services sector with a very small float (7% float of 1600M shares) compared to heavier KNM (33% of 2750M shares). This adds more speed to MHB’s move.
TAYOR
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.