Hubert Senters here.
Let’s take a look at MNST. We found this a few days ago when it crossed slightly above the cloud. It is by no means out of the woods yet as you can see there’s one little cross above the cloud with one bar. There’s your second, there’s your third, there’s your fourth. This is what you’re looking for right here.
If you’re a little bit more conservative then you will want to wait for that white line to work its way through the thickness of this cloud and peek its head above that. Now, in order for that to do that you may have to have another five maybe even ten bars above the cloud. It’s all dependent. It’s lagging behind the price action and so it’s a relationship price and the lagging line.
And then you’ve got this little gap back here that we will probably go in fill that gap. So it’s probably going to go. Monster Energy Drink here, MNST is probably going to go to the area of around $64-ish. If you’re aggressive in nature decent trade with a stop of $55. If you’re more conservative I would just wait and wait until the lagging line got above the cloud which maybe about $60.
So you’re going to miss some of the move but you also might be a little bit safer. I have been invited to be on the special guest speakers at the Toast of Traders the Trade Thirsty event. Both Rob Hoffman and I are going to be sharing the stage and Rob will go first, I go second.
We’re on it tomorrow 9:30AM EST and we’ll see you on the webinar tomorrow at 9:30AM EST until 11:30AM EST is when me and Rob are on. I think it starts at 9AM EST. It goes from 9AMEST to 4PM EST. Actually I know it does because I’m looking at right there. It opens up at 9AM until 4PM EST. And all you have to do is click CLAIM MY SPOT. You can scroll down here and see who all is speaking I believe but maybe you can’t but anyway claim your spot right there. And I’ll see you tomorrow.
Good luck. Hope it helps. Have a great weekend. See you on the webinar.
Hubert.
