Updated
MCDERMOTT INTERNATIONAL INC - NYSE: $MDR Shaping Up
After breaking above and recapturing its 200 DMA earlier this month, MCDERMOTT INTERNATIONAL CORP - NYSE:MDR is starting to show signs of life and presently finds itself trading within a flag pattern as we can observe from the Daily chart above.
While further works is required, MDR currently trades above all of its important moving averages 20/50/200 DMA's, which depicts a healthy technical posture.
Moving forward, both investors/traders may want to continue to monitor the action closely for if MDR is capable of clearing the $11 hurdle and can 'stick' at any point in the days/weeks ahead, such development would likely trigger a move into the $12 - $14 zone from a short-term perspective with potentially higher levels down the road.
Thus, investors/traders may want to put MDR front-and-center on their radars for clues/evidence that MDR may be ready for loftier levels.
While further works is required, MDR currently trades above all of its important moving averages 20/50/200 DMA's, which depicts a healthy technical posture.
Moving forward, both investors/traders may want to continue to monitor the action closely for if MDR is capable of clearing the $11 hurdle and can 'stick' at any point in the days/weeks ahead, such development would likely trigger a move into the $12 - $14 zone from a short-term perspective with potentially higher levels down the road.
Thus, investors/traders may want to put MDR front-and-center on their radars for clues/evidence that MDR may be ready for loftier levels.
Trade closed: stop reached
MDR proves why it's important to use stops in trading.Minimize losses and let winners run.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.