10-mon falling channel suggests further range-bound price action

18 0 2
M $36.51 – 10-month falling channel suggests further range-bound price action

M made a new-year low at 29.94 (May 23, 2016) before consolidating. The level could hold medium-term since it is near the 61.8% key retracement of the 2009-2015 (5.07/73.61) upswing. Currently, M is ranging below the 200 day moving average (at 37.68) within a 10-month falling channel . If the 37.68/38.48 resistance zone caps the recovery, the stock will likely retest the 34.31 support.

However, a decisive upside break above the 38.48 resistance and then 40.98 (August 16, 2016 prior lower high) would confirm channel breakout and turn the structure bullish . The upside target then will be 45.50 (March 18, 2016 YTD high).

Daily: neutral
Weekly: neutral
Monthly: neutral
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out