Nov. 14 at 4:32 AM
$MTN is currently trading at
$147.63, below both the 30-day moving average (MA30) of
$150.2 and the 50-day moving average (MA50) of
$149.64, indicating a bearish market context. The RSI at 44.65 suggests that the stock is nearing oversold conditions, but it is not yet in that territory, which could imply further downside potential before a reversal. The recent 60-day high of
$165.5 and low of
$139.5 establish a trading range, with the current price closer to the low end.
Suggested trade plan: Consider entering a short position if the price breaks below
$145, with a stop loss set at
$150 to limit potential losses. Target 1 can be set at
$140, aligning with the 60D low, and Target 2 at
$135, providing room for further downside. Alternatively, if the price rebounds above
$150, a long position could be considered with a stop at
$145 and targets at
$155 and
$160.
https://privateprofiteers.com
