$JSEMTN - MTN: Is A Bottom In At 8700 cps? Early Speculative Buy
See link below for previous analysis.
MTN stock continued lower from the previous analysis.
The stock has caught a bid at 8700 and might have a relief rally, dead cat bounce, or a bottom could be in at 8700 and this could be the early stages of a longer-tern rally.
There is not much to support a thesis that a bottom is in as the bounce is not on high volume and there was no MACD/price convergence prior the bounce.
It's all about probabilities and risk management so any long trades should use 8700 as a stop-loss level.
MTN stock continued lower from the previous analysis.
The stock has caught a bid at 8700 and might have a relief rally, dead cat bounce, or a bottom could be in at 8700 and this could be the early stages of a longer-tern rally.
There is not much to support a thesis that a bottom is in as the bounce is not on high volume and there was no MACD/price convergence prior the bounce.
It's all about probabilities and risk management so any long trades should use 8700 as a stop-loss level.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.