• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Stocks

MarketAxess Is Poised to Trade Still Higher

Technical analysis and trading strategy on shares of the online bond trading platform.
By BRUCE KAMICH
Apr 23, 2020 | 08:04 AM EDT
Stocks quotes in this article: MKTX

For his "Executive Decision" segment of Mad Money Wednesday night, host Jim Cramer spoke with Richard McVey, founder and CEO of MarketAxess Holdings Inc. (MKTX) , the online bond trading platform.

McVey said that MarketAxess has benefited from the coronavirus pandemic, both because trading volume has increased and because they are taking market share. Volumes have exceeded 12.5 million trades per day. Customers are embracing electronic bond trading because it's faster, more convenient and allows their clients to complete more trades per day,

Let's check and see if there is a trade to be made on MKTX.

In the daily bar chart of MKTX, below, we can see that prices have been super strong since the March low. MKTX has been making new 52-week highs this month -- not many stocks have done that! Prices are above the rising 50-day moving average line and the rising 200-day moving average line. We are close to seeing the 50-day line cross above the 200-day line for a bullish golden cross (buy signal).

The daily On-Balance-Volume (OBV) line has been moving up from early March telling us that buyers of MKTX have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line in bullish territory but the indicator has begun to narrow. The price ahead will determine if we see a take profits crossover or not.

In the weekly bar chart of MKTX, below, we can see the past three years of price movement. Notice the long consolidation pattern around the $200 level? This area of buying/accumulation allowed for the doubling in price to $400.

The past year has been another large consolidation pattern, which could propel shares of MKTX still higher. Prices are above the rising 40-week moving average line but not extended.

The weekly OBV line has been in a long sideways pattern but also close to making a new high. The MACD oscillator turned to the upside last month to a fresh outright go long signal.

In this daily Point and Figure chart of MKTX, below, we can see a potential upside price target in the $578 area.

Bottom-line strategy: Traders could try to go long MKTX near $405 risking a close below $375. The $575-$600 area is our longer-term price objective.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Stocks | Technical Analysis | Financial Services | E-Commerce | Mad Money | Executive Interview

More from Stocks

Fear: A Very Powerful Emotion

Paul Price
May 16, 2022 7:00 AM EDT

The typical investor has caved in to negativity. Many have sold off big percentages of their stock, fund and ETF positions.

China's Economy Could Be Shrinking as Big-Ticket Purchases Stop

Alex Frew McMillan
May 16, 2022 6:14 AM EDT

China's government is more concerned about stopping the spread of Covid-19 than spurring the economy back to life.

Indicators Still Support a Rally

Helene Meisler
May 16, 2022 6:00 AM EDT

It wouldn't be surprising if the market gave some of it back early in the week, only to rally again later in the week.

A 'Mag'nificent Way to Play an AdTech Rebound

Bret Jensen
May 15, 2022 9:15 PM EDT

Similar to biotech, the small adtech space has been hammered in recent quarters and has likely hit oversold territory.

Bearish Bets: 3 Sluggish Stocks You Should Consider Shorting This Week

Bob Lang
May 15, 2022 10:30 AM EDT

These recently downgraded names are displaying both quantitative and technical deterioration.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 07:14 PM EDT PAUL PRICE

    A new, very scary movie

  • 08:51 AM EDT PAUL PRICE

    Advice from the future...

  • 12:20 PM EDT PAUL PRICE

    A blast from the past regarding Bitcoin

  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login