M&T Bank Corporation (NYS: MTB) announced!NYSE:MTB
M&T Bank Corporation (NYS: MTB) announced recently plans to invest heavily on a tech hub to develop financial technology.
Those investment announcements usually have a temporary downward effect on the price, even if the long term effect on fundamentals is positive.
In fact, M&T associated companies have shown interest in financial technology such as cryptocurrencies.
We expect the following price trajectory for the following 2 days:
- Target one: 159.50 (April 23rd close price)
- Target two: 137.77 (April 24th close price)
Stop Loss could be placed as we did or according to your money management.
You may get more info about this at www.cryptomacrotrends.com
0JW2 trade ideas
Mtb on the edgeOne of my favorites technique is trading rectangles. What i really like is to find a Stock that is on the resistance of the price and at the same time in the resistance of time. What I do is multiply the distance in days between the first two tops in the rectangle by the fibonacci proportions. This gives me the next inflections days in the future. As we can see in the MTb, the distance is 12 days between the first top and the next one. 12 X 1,38 = 16 ,56 days. And we found a bottom . 12 x2 = 24 we found other bottom... 12 X 2,38 we have 28,96.. 29... we found a top... the next inflection point will be 4 days from now... this allow me a sell in the break below the low of the last bar. stop above it. target 121.00