Monday, Oct 30, 2017
 
 

MEDNAX Inc (NYSE: MD)

 

Mednax, Inc., together with its subsidiaries, provides neonatal, anesthesia, maternal-fetal, and other pediatric subspecialties physician services in the United States and Puerto Rico.

Take a look at the 1-year chart of Mednax (NYSE: MD) below with my added notations:

1-year chart of Mednax (NYSE: MD)

Over the past 2 months, MD has formed a clear level of resistance to watch at the $45 (red) level. The stock has tested that mark three different times since the end of August. A strong close above that $45 level would most likely lead to higher prices for MD.

The Tale of the Tape: MD has a key level of resistance at $45. A long trade could be entered on a break through that level. However, if you are bearish on the stock, a short trade could be made on any rallies up to $45.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT

 
 

Christian Tharp, CMT

Want to know which trades to make, how to manage your stops and when to exit your trades? As a CMT with over a decade worth of experience in trading & mentoring traders, I’d like to offer you the opportunity to let me help you overcome all of your obstacles.

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