Trading Drill Down:: What’s Going on With Shares of Monro, Inc. (NASDAQ:MNRO)?

Many traders will build a system to use when entering the market. Many trading systems will work for a time, but they may need to be tweaked at some point in order to adapt to the current market environment. Successful trading systems usually require a great deal of discipline. The best traders are often able to become highly skilled at managing risk and securing profits. For new traders, it may be tempting to use a system that a friend or colleague recommends. This may work for some, but many individuals might eventually realize that the style or system does not particularly suit their trading style. 

Taking a look at some historical highs and lows for Monro, Inc. (NASDAQ:MNRO), we see that the all time high is currently 84.38, and the all time low is 1.6666917. Investors often pay added attention to a stock when it is nearing a historical high point or low point. For the last year, the high price is 84.38, and the low price stands at 50.25. For the last six months, the high was seen at 84.38, and the low was tracked at 60.78. If we move in closer, the three month high/low is 84.38/60.78, and the one month high/low is 74.52/60.78.

Traders following the stock may be watching SMA or Simple Moving Average Levels. Many traders will be watching out for when the shorter-term averages cross above the longer-term averages as this may point to the start of an uptrend. Let’s look at the following SMA readings:

SMA 50 day: 70.62402
SMA 30 day: 70.06503
SMA 200 day: 72.15697
SMA 20 day: 70.8125
SMA 100 day: 74.38331
SMA 10 day72.632

Traders following the Chaikin Money Flow indicator will note that the current 20 day reading is 0.029650094. The CMF value will fluctuate between 1 and -1. In general, a value closer to 1 would indicate higher buying pressure. A value closer to -1 would represent higher selling pressure.

Technical analysis on the stock may include following the Keltner Channels indicator. Currently, the 20 day upper band is 73.12952. The 20 day lower band is noted at 69.84612. The KC indicator is considered a lagging indicator. Traders may use the values to help spot overbought and oversold conditions.

Traders have the ability to use a wide range of indicators when studying stocks. Each trader will typically find a few indicators that they heavily rely on. The Ichimoku Cloud indicator works to identify trend direction, gauge momentum, and identify trading opportunities based on crossovers. We can view some Ichimoku indicator levels below:

Ichimoku Lead 1: 69.245
Ichimoku Lead 2: 74.16
Ichimoku Cloud Base Line: 67.65
Ichimoku Cloud Conversion Line: 71.815

Learning to secure profits from trading the stock market can involve a lot of diligent work and focus. The more experienced a trader becomes, they may be find it easier to follow good trading techniques. Having a plan may be one of the most important aspects for trading the equity market. Without a plan, traders may find themselves in a bind when faced with difficult real world decisions. When these decisions have a direct impact on profits and losses, traders need to be able to make sure that they make the best possible moves in order to avoid disaster.

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