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MBII Pullback To Support Offers New Entry or Add-on

After hitting T1 for a quick (3 hour) gain of 23% last week and continuing over half-way to the 2nd target before reversing, MBII (Marrone Bio Innovations, Inc) has now fallen back to the key 1.05 former resistance/now support level, thereby offering a new objective entry, add-on or re-entry for those who booked profits at T1 or above. The suggested stops for the original lots as well as an add-on or new entry here remains on a daily close below 0.99. Once again, this is an aggressive trade with a low-priced, relatively thinly traded stock. As always, all previous notes/charts on this or any trade can be viewed by clicking the symbol tag (MBII) at the bottom of this or any related post.

MBII daily Feb 22nd

MBII daily Feb 22nd

Feb 22, 2016 11:28am|Categories: Completed Trades - Long|Tags: |1 Comment

One Comment

  1. Profile gravatar of rsotc
    rsotc February 22, 2016 11:37 am at 11:37 am

    To add to my notes; as with most thinly traded stocks, limit orders are often preferable to market orders. For example, when buying, if the MBII is at 1.09 x 1.14 (bid 1.09/ask 1.14), I will often place a buy limit order close to but just below the ask price, say, around 1.12 in this example. You can also set an AON (all-or-none) conditional on your order to prevent getting only a partial fill before the stock moves away from your price but that will lessen the chances that your order is filled. Bottom line is that this is an aggressive, low-priced, thinly traded stock so be careful & probably best to pass on it if you are not comfortable or experienced with these types of trades.


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