Nov 05, 2021 10:37 AM 0 Answers
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Hi Marty!

Could you give your feelings about $MQ? Gave up more than 18% in a few days...

Regards and many thanks!

I am not sure if you are looking to buy or sell this stock?

Technically, the MQ chart shows a failed breakout (avoid for now). They had a few announcements last week and went up for three days *(that is common and a reason for the 3-day rule). It tried to breakout last week and failed. I would expect it to find support at its 50sma ($26.50 area)

Fundamentally, the company shows excellent sales growth. They are in a competitive space and they will be up against strong competition.

IPO Stocks are extremely difficult to trade as they have little history to base our decisions.

  • three day rule applies as stocks often rise three consecutive days after a news event, and then pullback.

I hope this answers your question




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