MEZ - Looks Bullish?MEZ has been consolidating for quite sometime now and has unable to break support. The price action suggests that it could hit the Resistance level of $5.50 (a potential 8% move) on the upside. My Stoploss will be $4.50, below the previous swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
MEL trade ideas
MEZ - Bullish Trade PlanMEZ looks good and ripe for a move higher because of the two consecutive breaks of the Bearish Trendlines with High Volume and has bounced off its strong support of $4.60 level. MACD has got bullish too and maybe we shall see the upswing continue to go higher. My target for this trade would be $6.00 level which could be a potential 18% gain.
TP - $6. 00 (Potential Gain 18%)
Stoploss - $4.50
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
MEL 24/12/20Overall upwards trend on 3 month, aswell as 4hr candles. Buyers seem to have momentum pushing up to $7.20. Expecting a pullback as RSI crosses 70 maybe to around $6.875 - $6.70 and then should continue upwards trend to break resistance and establish itself again. There is no RSI + Divergence (White trend lines) so don't think there will be reverse in trend.
Just keep an eye out.