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MM Still Poised to Run

MM (Millennial Media) was posted as a Long Trade Setup back on May 14th and went on to trigger an entry the following day on a break above 1.79. That entry proved to be a false breakout, with the stock failing to close above the breakout level and trading back below that horizontal resistance level since. As the suggest stop of 1.54 (for those targeting T2, the final target) was not hit, MM remains an Active Trade as well as a Trade Setup.

MM daily June 16th

MM daily June 16th

The stock still looks poised to run although I would wait for a break over 1.81 this time around as the previous failed breakout printed several daily candlestick highs at the 1.80 level. Therefore, the next objective entry or add-on to an existing long position in MM will come on any print of 1.82. Price targets and suggested stops remain the same. As always, all previous notes/charts on MM can be referenced by clicking on the MM tag found at the bottom of this an all associated posts related to this trade.

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Jun 16, 2015 10:32am|Categories: Completed Trades - Long|Tags: |Comments Off on MM Still Poised to Run