MPWR. Re-distribution. Is point of excitement coming next?
Hello guys. Made a quick look at MPWR daily chart. Structure is looking bearish. Why?
1. Lower highs, lower lows
2. Inability of the price to reach bc level (out of 3-4 attemts) in 2022.
3. Gradual increase of volatility from Initial reaction down (Chofbeh reaction) to August decline.
4. November + December rallies are pretty weak (touching only 0.5 of previous decline)
Tactics: even though we have a nice structure that might be local re-accumulation with targets around resistance line of this range we will be looking for shorts with POEntry after break of future local box.
What is your thoughts on this? How do you consider this 1d chart?
1. Lower highs, lower lows
2. Inability of the price to reach bc level (out of 3-4 attemts) in 2022.
3. Gradual increase of volatility from Initial reaction down (Chofbeh reaction) to August decline.
4. November + December rallies are pretty weak (touching only 0.5 of previous decline)
Tactics: even though we have a nice structure that might be local re-accumulation with targets around resistance line of this range we will be looking for shorts with POEntry after break of future local box.
What is your thoughts on this? How do you consider this 1d chart?