Startrader
Long

Weakness in the downtrend #swingtrading

NYSE:MTL   MECHEL PAO
Chart Analysis confirms that a strong downtrend is in place and that the market prepare for a A-B-C retracement.
My forecast: Swing trading up +2.46 (+145%%) at $4.16 in 105 days with money management stops.

A bullish divergence indicates that bearish investor sentiment is too extreme, indicating weakness in the downtrend.

The patterns are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages , and new highs/lows. The trading strategy is based on the Elliott Wave , learn more here https://www.tradingview.com/elliott-waves/.
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