TAOST Trade Idea 28 December 2022 - MEDP

Stock: Medpace Holdings
Symbol: MEDP
Company Profile [Yahoo Finance]: Medpace Holdings, Inc. provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services. In addition, it offers bio-analytical laboratory services, clinical human pharmacology, imaging services, and electrocardiography reading support for clinical trials. The company was founded in 1992 and is based in Cincinnati, Ohio. Medpace, is among a group of companies that provide the backbone for research into new drugs and medical devices. About 85% of its revenue is tied to the biotech segment — an area that saw massive growth in early 2022. At the midpoint, Medpace expects 18% sales growth next year.  

Price Behavior 

Monthly - The monthly chart shows a pretty clear Bull Flag pattern.

Weekly -- The weekly chart shows a Bull Flag pattern as well.  Given these overlapping patterns, the most likely direction is higher.

Daily -- While price is clustered more along the bottom of daily prices following the gap higher in November of 2022, the overall direction seems to be higher. 
The stock is consolidating in the flag of a Daily Bull Flag.  Shares are also in the midst of longer term Cup w Handle Pattern.  After reporting Q3 earnings and bullish guidance for 2023, the medical device maker bounced off the 50-day EMA during the week of 19 December 2022. The rising MACD histogram also supports the higher prices thesis.

Daily with TAOST Power Zones -- Price looks set to bounce out of the weekly Hi Power Zone.

TAOST Trade Model for MEDP

MEDP Short Interest

Hope it's helpful.