MOD remains resilient within a bullish technical structure that was highlighted earlier this month, averting a potential correction that was experienced by the smaller-cap companies this morning. MOD closed the earlier session at $14.28, an intraday gain of +2.29%.
First sign of bullish trend resumption for MOD was signaled with a Bullish Reversal Hammer candlestick pattern on 20th November 2020, with a further continuation breakout on a week’s of consolidated price action on 15th December 2020.
At the current junction, immediate resistance for MOD is clustered at $14.85 to $15 range. MOD will be set to attain its 2 years high at $16.67 upon the clearance of the highlighted range.