- MPWR fell below its 2 ½ year uptrend line earlier this month. From the March 2020 lows, MPWR rose 360% to its high in 2021 and is still up 160% from those lows even after a large decline. The zoom chart shows that MPWR broke down below support at the 350 level. This will remain tough resistance. The weekly shows that a drop below support at 300 (likely) will mean that long-term support is far below.
RRG analysis shows that MPWR has quickly moved out of the Leading quadrant, through the Weakening quadrant, and has entered the Lagging quadrant. This weakening should continue. MPWR was one of the Bottom 20 stocks in this week’s TPA-RRG Report, (see the RRG below).
- O fell below the 2-year up[trend line in September and through medium-term support at 62 in October (zoom chart). A 2-week rally puts O right at new resistance. The weekly shows that weekly reveals that the trend break makes O vulnerable to long-term support below 40.
RRG analysis shows that O has quickly moved out of the Leading quadrant, through the Weakening quadrant, and has entered the Lagging quadrant. This weakening should continue. O was one of the Bottom 20 stocks in this week’s TPA-RRG Report, (see the RRG below).
Relative Rotation Graphs (RRG) – explanation video
Top and Bottom 20 (TPA-RRG Report 10/24/22)
Jeff Marcus founded Turning Point Analytics (TPA) in 2009 after 25 years on trading desks and 13 years as a head trader to provide strategic and technical research to institutional clients. Turning Point Analytics (TPA) provides a unique strategy that works as an overlay to clients’ good fundamental analysis. After 10 years of serving only large institutions, TPA now offers its research services to mid and small managers, RIA’s, and wealthy sophisticated individuals looking for a way to increase their returns and outperform their peers.
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