MMTC trade ideas
MMTC Explanation of Trade Set Support & ResistanceHow to find targets in any stock ?
We all know that every stock is unique and
it moves in certain style/direction/traits
Targets are found via Support Resistance in any stock which has a historical data
For e.g. what will happen if price is at ATH and no resistance for its target SKY is the Limit refer Adani Ent Chart
An deep understanding of Support & Resistance
MMTCAfter a flag and pole breakout, a resistance breakout can also be seen. The opening price looks good for intraday pick. Keep track of it.
MMTC - CMP: 56It has given Rounding bottom Breakout on multi Time Frame. Increasing in delivery volume also indicating positive movement ahead.ADX indicating strength in movement and RSI is indicating the trend will continue. We can expect a price movement of 62 to 70. Also holding long will reward good. We can expect price movement till 90/94 in the mid-term time frame.
MMTC, 1D near resistance , wait for proper breakoutMMTC, 1D near resistance, wait for the proper breakout,
above all the moving avegs also.
all short term targets and SL marked on the chart.
All analyses are for educational purposes only.
MMTC Inverted Head & Shoulder & Rectangle Breakout with VolumeMMTC Inverted Head & Shoulder & Rectangle Breakout with Volume
MMTC - Potential Weekly BreakoutSince the beginning of the latest upmove in MMTC from Nov 2020, the stock has been well supported by a rising trendline on the weekly chart (blue coloured diagonal trendline labelled as "support trendline" on the chart).
MMTC made a weekly closing high of 47.1 in early March 2021 and since then, the stock has been sideways to down and has consolidated in the 40-47 area for multiple weeks. The 46-47 region has previously acted as a resistance area for this stock in 2017-2018 and has also acted as a weekly support back in 2014-2015. Keeping this in mind, any breakout above this level will most likely lead to a rapid upside move in the near future.
Coming back to the present, the stock was in a 9-10 week sideways to down move represented by the red coloured trendline on the chart (labelled "resistance trendline"). This week MMTC has broken out of this resistance trendline with the highest volume in the last 9-10 weeks. A continuation of this move is likely and will target the 57-65 area which represent highs made in 2017 and 2014 respectively.
One can go long with a WCB stop loss of 41-43.
MMTC LONGStock has formed 1.5 month long base on the charts and found support at 50 EMA. The consolidation was on low volume and volatility also decreased. Company has posted bad result on 16-Apr-2021, let's see if it already factored the bad result into the price.
In consolidationIf the consolidation is over upon having recently tested and survived long term 2/1 support with decent volume, we may now see some good move in this counter in short term. However a target of 100 by August '21 as indicated by the chart seems to be a little stretched.
