MMC looking to make new highs!
Note: I last spoke about MMC around mid October and since then it has consolidated and now it's showing signs of going higher.
* Excellent earnings
* Very strong up trend
* Very high 3-mont relative strength of 6.87 in the Financial sector
* Breaking out of a ~2 month base with higher than average volume
* We can see that it tried to break above earlier but came back down due to the market volatility
* It's also showing healthy signs for a continuation on the weekly chart
Trade Idea:
* If a little volatility doesn't bother you, now's a great time to enter as the price is still close to the broken level.
* Moving forward, $171.13 should serve as support so if you're looking for a slight discount you can look for an entry around that area.
* Excellent earnings
* Very strong up trend
* Very high 3-mont relative strength of 6.87 in the Financial sector
* Breaking out of a ~2 month base with higher than average volume
* We can see that it tried to break above earlier but came back down due to the market volatility
* It's also showing healthy signs for a continuation on the weekly chart
Trade Idea:
* If a little volatility doesn't bother you, now's a great time to enter as the price is still close to the broken level.
* Moving forward, $171.13 should serve as support so if you're looking for a slight discount you can look for an entry around that area.
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