Here’s how I’d trade Mimecast ($MIME). (June 24, 2020)


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I want to talk about Mimecast ( NASDAQ: MIME ) here. This is a really good company; pretty solid fundamentals. Earnings, revenues, and profit margins are all accelerating so this is what we like to see.

If we look at the weekly chart you will see this opened 5 years ago, 4 years ago, something like that. The weekly chart looks a little sloppy, it actually kind of has a downside bias. But if we go back to the daily chart you will see that this $45.00 level is kind of a pretty solid level of resistance.

And so what I would want to be doing is, I would want to be waiting for this. Don’t anticipate the move; if you anticipated a breakout above 45.00 you were disappointed a whole bunch of times because we had 1, 2, even 3, 4, 5, 6, 7, yesterday came close. So all of this anticipating a breakout cost you a lot more money than simply waiting for the breakout and then buying at a higher level.

It is really important that you kind of get that down in your trading behavior. Don’t anticipate; you can anticipate from the standpoint of knowing what to watch for, but as far as acting you actually want to be reacting. And if you are anticipating in your analysis then you can react quicker when you actually see what you are looking for.

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