MOBILE TELESYSTEMS - NYSE: MBT Nears Break-Out
We've been monitoring the action in shares of MOBILE TELESYSTEMS - NYSE:MBT for a while now and it appears that the stock is starting to find buyers as it approaches a significant level in order for the stock to release into higher ground.
As we can witness from the Daily chart above, MBT presently finds itself trading above all of its important moving averages 20/50/200 DMA's, suggestive of a healthy technical picture.
However, perhaps of more importance, MBT now finds itself rapidly approaching a key inflection point at the $8.75 figure. Should the stock be capable of going topside of the level and 'Stick', we suspect that further advance is in the cards and we may just see a move into the $10-$12 zone in rapid fashion.
Thus, both investors/traders may want to keep a close eye on the action and more importantly, the noted $8.75 figure for confirmation/clues that greener pastures may be in the offing.
As we can witness from the Daily chart above, MBT presently finds itself trading above all of its important moving averages 20/50/200 DMA's, suggestive of a healthy technical picture.
However, perhaps of more importance, MBT now finds itself rapidly approaching a key inflection point at the $8.75 figure. Should the stock be capable of going topside of the level and 'Stick', we suspect that further advance is in the cards and we may just see a move into the $10-$12 zone in rapid fashion.
Thus, both investors/traders may want to keep a close eye on the action and more importantly, the noted $8.75 figure for confirmation/clues that greener pastures may be in the offing.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.