MRW has been in an uptrend for over a year. There is a bearish divergence developing between price and the MACD histogram, though this is not necessarily significant for a short duration trade.
Long Daily Chart
This stock is fairly reliable about reversing course when price breaches the upper and lower moving average channels. Volume has been falling steadily since hitting a late September peak, which suggests weakening support for further price gains and a possible correction or trend reversal in the not-too-distant future.
Short Daily Chart
MACD is ticking up and prices have recently bumped up against the trend line. Force index is weakly tracking with price.
I have seen more promising charts, but I have decided to bet on a brief small price rise. I will enter a long position tomorrow morning as close to the opening bell as I can. I will set a limit order to sell at a conservative 249.0p. I will place my stop loss at 237.5p.
Entry: On 07.Mar.17 I entered a long position at 247.2p
Exit: On 08.Mar.17 I closed my position at 249.0p for a gross return of +0.73%
My exit was well timed. Had I not gotten out when I did, I’d have stopped out at a 3% loss.