Mazor Robotics LTD. Potential bearish divergence.

16 เม.ย. 2018

Mazor Robotics reporting solid numbers, looking to announce on 5/9 for last quarter. IGNORING all of that, the chart shows a bearish divergence forming, with two major uptrends. First uptrend since 2016, and second uptrend in place as of 3/21/2017. Price has risen RAPIDLY on second uptrend, while also appearing quite volatile. Checking RSI, we see slight bearish divergence, although nothing to be noticeably worried about if financials stay strong.

We are likely to see the chart test the second uptrend before resuming trend upwards. Trend SHOULD continue, but will hit resistance at $69, and $76.00. This will most likely bounce from these levels, and test lows again. If financial reports are positive, expect trend to continue.

If price reverses, expect drop down to $56 and $50 respectively. This would make an EXCELLENT buy in point. So watch very closely for reversal patterns, or to see if pattern breaks uptrend. We should expect major resistance at these levels, and a continuation of previous trend upwards. To play the Fibonacci patterns, we would LIKE to see a bounce off the 50% or 61.8% lines, which we would then use as our buy in levels ($50).

"For the three months ended September 30th, 2017 vs September 30th, 2016, Mazor Robotics reported revenue of 17.20MM vs 7.63MM (up 125.39%) and basic earnings per share -$0.15 vs -$0.16. For the twelve months ended December 31st, 2017 vs December 31st, 2016, Mazor Robotics reported revenue of 64.95MM vs 36.38MM (up 78.53%) and basic earnings per share -$0.51 vs -$0.84. Mazor Robotics is expected to report earnings on May 9th, 2018. The report will be for the fiscal period ending March 31st, 2018. The reported EPS for the same quarter last year was -$0.22. The estimated EPS forecast for the next fiscal year is $0.76 and is expected to report on February 13th, 2019." -Yahoo Finance.

PLEASE reach out with what you see. This stock is new to me, but I have gotten quite interested as of lately. I do not read into how the news may affect the price for this chart, I just chart trends, patterns, and potential breakouts, based on trends available. Cheers!

30 เม.ย. 2018

บันทึก

This pattern has broken below the trendline, the bearish divergence took us below the 2nd uptrend, leaving the first one intact. A good purchase price should be around $50, as long as support is strong around the 50% mark.

Feel free to correct me.

17 ส.ค. 2018

บันทึก

This trade has reached its low target level, and the 50% fibonacci level all at once. This may not be the last stop on the way down, as it reached it very fast with some high volume. However, this area was a major point of resistance upwards previously, we should see resistance turned support. Expect a battle at this level of $42, and more than likely a short bounce upwards.

Notice the falling wedge pattern that is potentially forming in the short term. I do not expect this downtrend to last very long, I expect it to stay within the falling wedge.

I look to 2 major points on the fibonacci chart. the 50% between $40-$42, and the 61.8% lines ($33.00). With strong enough volume, we could see price reversals around either of these two lines. I do not recommend buying until trend lines are broken.

17 ส.ค. 2018

บันทึก