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
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.