Looking at MTN's price action, it's been on a downtrend since breaking out of a sideways range. The RSI shows it's oversold. I'm waiting for the RSI to cross above the downtrend line, similar to what happened in May 2023 after the earnings report.
My plan is to aim for a target of 108-110 initially. If it breaks above that with good support, I'll consider adding to my position, and my next target would be around 130.
Hi, I like your analysis. What functionality do you use to generate the predicted candles?
MarketMeistersTrading
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Hi @JeeneshManga, thanks for liking. I use the bars-pattern functionality under the projection tool. It allows me to select a similar candlestick movement from the chart, giving me a reference for estimating the time it might take to reach the predicted price. Let me know if you have any more questions.
JeeneshManga
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@MarketMeistersTrading, Thank you for sharing your knowledge. Been looking for this function for a while. Much appreciation for your help. Will Do. Thanks and take care.