Matic remains one of my largest positions, which I have traded around for the past few years. It may be time to add to the holdings once again. This is a WEEKLY chart, so we want to see a close above the descending resistance. A few weeks ago we saw two wicks through this line, which we want to avoid here.
As you can see, price has also cleared both the 50 MA and 200 MA resistances as well.
With a close above resistance, I am looking for a slow move to around $1.56.
A “safer” entry would be above the 97 cent resistance.
As you can see, price has also cleared both the 50 MA and 200 MA resistances as well.
With a close above resistance, I am looking for a slow move to around $1.56.
A “safer” entry would be above the 97 cent resistance.
scott.melker@texaswestcapital.com