MVIS fell back down into its parallel channel.
$3.39 is resistance. If MVIS can break above this price and hold it as support,
that would be bullish.
If MVIS can't find $3.39 at support, then this stock could be in trouble.
Currently $1.95 is an area of support, and it tested and confirmed this level as support on April 2023.
If price falls below $1.95, the next support level is the bottom of the channel at $1.11.
MVIS continues to make lower highs, and is in a downtrend, in the big picture.
Time will tell if a lower low will form.
17 cents is the previous low.
$3.39 is resistance. If MVIS can break above this price and hold it as support,
that would be bullish.
If MVIS can't find $3.39 at support, then this stock could be in trouble.
Currently $1.95 is an area of support, and it tested and confirmed this level as support on April 2023.
If price falls below $1.95, the next support level is the bottom of the channel at $1.11.
MVIS continues to make lower highs, and is in a downtrend, in the big picture.
Time will tell if a lower low will form.
17 cents is the previous low.
Trade active:
MVIS ended the week of October 13, 2023 at $2.07.
$1.95 has been strong support and resistance, and MVIS is currently respecting this level.
MVIS is in a downtrend, printing lower highs and lower lows since March 2021.
Knowing the phrase, "the trend is your friend," means MVIS could possibly break below the $1.95 level, and eventually test the bottom of the parallel channel in the future. $1.11 is the value of the lower channel.
On a bullish note: A double bottom could be forming, which is a bullish reversal.
There's 2 weeks left in the month, so we need to see how this monthly price closes. A bump up in price from here could potentially be a sign of a bullish reversal.
$1.95 has been strong support and resistance, and MVIS is currently respecting this level.
MVIS is in a downtrend, printing lower highs and lower lows since March 2021.
Knowing the phrase, "the trend is your friend," means MVIS could possibly break below the $1.95 level, and eventually test the bottom of the parallel channel in the future. $1.11 is the value of the lower channel.
On a bullish note: A double bottom could be forming, which is a bullish reversal.
There's 2 weeks left in the month, so we need to see how this monthly price closes. A bump up in price from here could potentially be a sign of a bullish reversal.
Trade active:
Week of October 16, 2023:
MVIS briefly dipped below $1.95 on Friday, down to $1.91 before closing the week at $2.01.
MVIS is respecting this $1.95 level.
A bounce up in price could possibly be a double bottom formation, which is bullish.
And on the bearish view, a break below $1.95 would mean a continuation of a downtrend. The next support level would be $1.66 ish.
There's a week and a half left in the month of October, and we need to see where price closes to determine MVIS' next move.
MVIS briefly dipped below $1.95 on Friday, down to $1.91 before closing the week at $2.01.
MVIS is respecting this $1.95 level.
A bounce up in price could possibly be a double bottom formation, which is bullish.
And on the bearish view, a break below $1.95 would mean a continuation of a downtrend. The next support level would be $1.66 ish.
There's a week and a half left in the month of October, and we need to see where price closes to determine MVIS' next move.
Trade active:
Week of Oct 23, 2023:
MVIS closed the week at $1.92, and is currently testing the $1.95 support level.
Because this is the monthly chart, we need to wait till the close of Oct 31 (Tuesday) to know how this candle will close.
Is it going to close below $1.95 and look to test the next resistant level of $1.66?
Or is it going to bounce off the $1.95 level, and potentially create a double bottom?
MVIS closed the week at $1.92, and is currently testing the $1.95 support level.
Because this is the monthly chart, we need to wait till the close of Oct 31 (Tuesday) to know how this candle will close.
Is it going to close below $1.95 and look to test the next resistant level of $1.66?
Or is it going to bounce off the $1.95 level, and potentially create a double bottom?