inverted cup and handle for MTW
Here is what I think is happening.
MTW is in a inverted cup and handle pattern, with the initial handle under formation (or perhaps a bigger cup is in formation).
1. Its currently in the process of short term over bought, not quiet there yet based on OBOS levels. I could be wrong and the 30.00 price is the resistance that it has hit and continue the down trend .
2. because of the rate at which the stock tanked and stretched far down, there should be some rebound and I expect it to hit resistance at 32.25 with decreasing volume.
3. with further continuation of the down trend the price could hit two key price levels.
- cheers
Scorp
MTW is in a inverted cup and handle pattern, with the initial handle under formation (or perhaps a bigger cup is in formation).
1. Its currently in the process of short term over bought, not quiet there yet based on OBOS levels. I could be wrong and the 30.00 price is the resistance that it has hit and continue the down trend .
2. because of the rate at which the stock tanked and stretched far down, there should be some rebound and I expect it to hit resistance at 32.25 with decreasing volume.
3. with further continuation of the down trend the price could hit two key price levels.
- cheers
Scorp
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.