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HomeTrading FocusedSwing TradingSwing Trade Idea - Mueller Industries (MLI)

Swing Trade Idea – Mueller Industries (MLI)

MLI

Stock Technical Analysis: Mueller Industries, Inc. (MLI)

Trade Setup: The stock is currently in an uptrend and has repeatedly found support at the 21 EMA. It is trading near its all-time high, indicating potential for a breakout and continuation of the uptrend to create new highs. Year-to-date, the stock has appreciated by approximately 15%, providing a favorable opportunity for a long swing trade.

Entry: Consider entering the trade when the price approaches the 20 EMA, which is currently around $52.40.

Stop Loss: Place the stop loss at $50.20 after the breakout, then consider trailing it with the 50 EMA.

Target: Remain in the trade until the trend shows signs of reversal.

Risk Management: Due to the wider stop loss, consider buying a smaller quantity to manage risk effectively.

Please note this is only an opinion and not financial advice.

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