HomeInvestingEarningsMTDR, BBY Technical Analysis Trends
MTDR, BBY Technical Analysis Trends

"Energy stocks are continuing their rally as Matador Resources (MTDR) is up 440% since January 2021. The trendline many traders are eyeing is the once that began after recapturing its 200-dma in late 2020. Now, Matador is threatening a breakout to new all-time highs. New traders will want to be prudent and allow the breakout to occur before starting a position. When a breakout occurs, the stock may trend higher using a short-term moving average like the 10-day or 20-day simple moving averages. Bullish traders will also be looking for the stock to 'check back' at the breakout level for a test of support. Also, Best Buy (BBY) has been on a year-long slide from highs achieve in November of last year. The downtrend remains in place here and bears appear to be in charge. However, there appears to be some bullish behavior at the lows of the last month," says Kevin Horner.

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25 Oct 2022

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