MNSO showed little volatility last week, recording only minor single-digit percentage pullbacks. Still, we expect further downside ahead. As the decline continues, the stock should reach the green Target Zone between $9.90 and $7.33. Within that range, we anticipate the low of the green wave [2]. This bottom should then set the stage for a new upward move, which should eventually break above the resistance at $35.22 via a turquoise five-wave structure.
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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.