Rumors have been circulating around for the last couple of weeks about some alien forces may be taking over MTR. Is it because some in the media may have accumulated sub $2.70 and off loading it to the public on news or could there be a credibility in the news ? No idea to be frank.Lets look at its daily chart to define some support and resistance levels. To start with LOW of TODAY and HIGH of YESTERDAY gives us a zone of support. That is the zone of $2.65 – $2.76. If this GAP UP is not filled it may be a BREAKAWAY GAP leading into further bullish developments. If I see the price trading in this zone it will negate the theory of it being a BREAKAWAY GAP. Next zone of resistance is $3.10 to watch.
I did take some profits of the table and have a leftover parcel just in case the Alien story turns out to be credible one.
Disclosure: Still a holder.
Daily Chart of MTR below.
All the information and analysis provided on this website is general in nature and for educational purposes only and does not constitute financial advice. No content in any way implies a recommendation to buy, sell, hold or short sell any financial instrument, nor is it financial advice.
Investing and trading in financial markets carries considerable risk, and should always be done in consultation with a licensed financial adviser taking your personal circumstances, financial situation, objectives and needs into consideration.
Links to other websites are inserted for convenience only and do not constitute endorsement of any of the material on those sites, or any associated organisation, product or service. Kazim Agaoglu is not responsible for the content of any site owned by a third party that may be linked to this website and such links are provided as a courtesy with no judgment or warranty being made concerning the suitability, accuracy or otherwise of the content on any such site.
Kazim Agaoglu disclaims any undertakings, warranties or guarantees, express or implied and shall not be liable for any loss or damage whatsoever arising out of in connection with the use of or reliance upon any of the information on this website. The user accepts sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information on this website is no substitute for financial advice.