MBII First Price Target Hit (again) for a 29% Profit

Wash, Rinse, Repeat: MBII (Marrone Bio Innovations, Inc) has once again hit the first price target, T1 at 1.35, for a 28.6% gain following the second new long entry or add-on to the original long trade idea. MBII was first added as an Active Long in this post back on Feb 18th at a price of 1.10 shortly after breaking above the 1.05 resistance level, with the trade going on to hit the first price target for a quick 23% gain just 3 hours after the entry.  From there, the stock continued over half-way toward the second & final target before coming back in to the key 1.05 support level where once again, MBII was posted as both a new long entry or an add-on to an existing position in this post on Feb 22nd. T2 at 1.76 remains the final target at this time while the suggested stop remains on any move below 0.99. Previous & updated daily charts:

Mar 1, 2016 3:28pm|Categories: Completed Trades - Long|Tags: |Comments Off on MBII First Price Target Hit (again) for a 29% Profit