MM Group Egypt - Quick trading between S & R lines 1-hour chart,
the stock EGX:MTIE is trading in a rising wedge. While this is a bearish chart pattern, we can trade between the support and resistance lines (7.60 - 8.00) for the next few weeks - or until breaking either boundaries.
In case of:
closing 3 hours below line S, the target will be 7.10
closing 3 hours above line R, the target will be 8.66
A near stop loss level should be considered.
