MNSO - Reversal patter to new high in coming week?
Updated
This is a slow grinder kind of a play but one that may bare fruit in the near future if you are looking for a good 10%+ move. The stock in the past few weeks slowly creeped its way up to the 9.63 mark before pulling back to the 7.02 mark. From there we saw a move up of over 10% to 7.95 just to be rejected from the psyche resistance of $8. Since then it has pulled as low as the low 6's which as of closing day Friday July 15th it is back over $7 again. If this one can break above $8 in the next few weeks I will be looking to enter in for a 10% move as I believe a break of $8 can lead to much more. (Not financial Advice)
P.S Some other note worthy things to keep in mind is that between the CEO of the company and 1 board member of the company, they hold about 68% of the company shares. As a long term play this maybe a bullish sentiment in itself to have internal leadership to carry such a weighting. They will be incentivized to help increase their stock price with better business decisions.
P.S Some other note worthy things to keep in mind is that between the CEO of the company and 1 board member of the company, they hold about 68% of the company shares. As a long term play this maybe a bullish sentiment in itself to have internal leadership to carry such a weighting. They will be incentivized to help increase their stock price with better business decisions.
Note
Held the $7 zone well today, Would like to see more movement in the days ahead for the upside
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