MPL looks interesting with the current setup. Not to mention trading on a PE of 20x.
I don't think the share price is factoring in any Government intervention risk into the health insurance sector.
If i had the liquidity, i'd be getting short here.
Looking at the technical setup, the RSI indicator has topped out above the 'over bought' region and has now broken lower. MACD and stochastics have also rolled over from and are also trending lower. The recent candlestick action of a 'blow off' top that failed to sustain any of the move higher also tells me that the buy side has run out of steam.
Looking for a price move back to $3.15 in the short term, with a secondary move back to the 200 day moving average, which comes in at $2.95 at the moment.
MPL Price at posting:
$3.27 Sentiment: Sell Disclosure: Not Held
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