Here is your conditional trade on Miniso ($MNSO) – November 16, 2023
This is Dan Fitzpatrick with FITZ IN FIVE. This one, MINISO Group Holding ( NYSE: MNSO ), is in a really, really good squeeze pattern here.
As you can see, I have been analyzing this for a while. They report earnings on the same day as NVIDIA ( NASDAQ: NVDA ) does. Here we are, I don’t want to get too micro on this because the big event is going to be earnings, not exactly what it did today; I don’t care.
This is what you want to know, if the stock happens to break above $28.00, then I think this stock is likely to really go on a tear. Because this is a really, really long base that it was in. It broke out of that and now it has just formed another base that goes back for a couple of months.
If you look at it on the weekly chart you will see a similar thing here. A really tight range here, a nice move to the upside, and then another, it looks like, a tightening range here as well. I am looking for more upside for this stock, but not from here because you could very easily see this stock fall.
I am not dogmatic about this, I’m just saying, I’ll put it this way, I wouldn’t touch this stock unless it broke above $28.00. If it breaks $28.00, then it’s a different deal. But until it does, I would just be watching it to see if it does.
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