MINA's Momentum Play: Is a New High on the Horizon?
Bias: Bullish
Description: MINA's price action is maintaining a bullish trajectory within an ascending channel, indicating a strong uptrend. The RSI is in a healthy range, suggesting continued momentum without immediate overbought concerns.
Direction: Upward
Entry: Looking for entry points after a minor retracement to the channel's lower boundary or upon a bounce from the SMA could be beneficial.
Stop Loss: A stop loss could be placed just below the channel's lower trend line to minimize potential losses if the trend reverses.
Targets: Initial profit targets may be set near the channel's upper boundary or at previous resistance levels, with a possibility to trail the stop and let profits run if the uptrend persists.
Caution: Watch for any bearish patterns or a drop in volume which might indicate a potential trend reversal. It's also important to monitor broader market sentiment and news that could affect the price action. Adjust stop losses and take profits accordingly to manage risk.
Description: MINA's price action is maintaining a bullish trajectory within an ascending channel, indicating a strong uptrend. The RSI is in a healthy range, suggesting continued momentum without immediate overbought concerns.
Direction: Upward
Entry: Looking for entry points after a minor retracement to the channel's lower boundary or upon a bounce from the SMA could be beneficial.
Stop Loss: A stop loss could be placed just below the channel's lower trend line to minimize potential losses if the trend reverses.
Targets: Initial profit targets may be set near the channel's upper boundary or at previous resistance levels, with a possibility to trail the stop and let profits run if the uptrend persists.
Caution: Watch for any bearish patterns or a drop in volume which might indicate a potential trend reversal. It's also important to monitor broader market sentiment and news that could affect the price action. Adjust stop losses and take profits accordingly to manage risk.
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.