MEBL is in sideways for almost seven months now. It is very much likely to continue in that fashion as interest rates cut is expected further.
Therefore, buy on parallel channel's bottom and sell on its top is recommended.
GANN support & Resistance fanes and Fib retracement tools have been used. Price has honoured both GANN and Fibonacci for this SCRIPT. Therefore, one can draw confluence while taking trades in this SCRIPT.
RSI is at a mid-range emphasizing on continuation of small uptrend and then fall down. KVO is also a bit bullish (above Zero), but KVO indicator line has crossed its trigger line as well which may hint at price going up.
Trade Values
Scenario ONE:
Buy-1 (Mkt): 246.64
TP: 271.75
Scenario TWO:
Buy-2: 284 (If price breaks the resistance)
TP-2: 327
Stop Loss: 207
Therefore, buy on parallel channel's bottom and sell on its top is recommended.
GANN support & Resistance fanes and Fib retracement tools have been used. Price has honoured both GANN and Fibonacci for this SCRIPT. Therefore, one can draw confluence while taking trades in this SCRIPT.
RSI is at a mid-range emphasizing on continuation of small uptrend and then fall down. KVO is also a bit bullish (above Zero), but KVO indicator line has crossed its trigger line as well which may hint at price going up.
Trade Values
Scenario ONE:
Buy-1 (Mkt): 246.64
TP: 271.75
Scenario TWO:
Buy-2: 284 (If price breaks the resistance)
TP-2: 327
Stop Loss: 207
Trade closed: target reached
Both TP 1 and TP 2 were reached. Trade closed as far as analysis is concerned. However, this stock is showing potential and can be kept after booking some profit.
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.
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.