Technical Analysis: MOTORCAR PARTS OF AMERICA INC. (#MPAA)

Motorcar Parts of America, Inc. is a leading manufacturer and distributor automotive aftermarket parts


- #MPAA has been trading on a parallel channel since November 2020

- USD 19.50 acted as a good area of support on the last reversal looking type candle

- The RSI is low and has room for an upside

- MACD, slightly below 0, is signalling a reversal

- The first test will be at the 50MA, if #MPAA will manage to seat above further upside can be possible

- If it breaks above the 50MA, we will increase our position at USD 21.70

Entry price USD 21.02

Target price USD 23.44

Stop loss USD 19.00

OTB Global Investments

London, 22 February 2021


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