The RSI is signaling oversold conditions at just over 30.
The stock is hovering near multi-year lows despite having done well fundamentally. There could be a rally in the cards in the near future.
If long-term support is broken amid a sustained selloff, however, there might still be some pain before bottoming out. Closing well below $15 for a few weeks in a row could signal decreased confidence in M. All things considered, a rally from the lows looks more likely. If nothing else, expect a period of consolidation to form around the present support level of $15.
I'm rating this as neutral even though I'm bullish because the downward trend is so strong that it's possible to continue trending lower beyond the long-term support.
The stock is hovering near multi-year lows despite having done well fundamentally. There could be a rally in the cards in the near future.
If long-term support is broken amid a sustained selloff, however, there might still be some pain before bottoming out. Closing well below $15 for a few weeks in a row could signal decreased confidence in M. All things considered, a rally from the lows looks more likely. If nothing else, expect a period of consolidation to form around the present support level of $15.
I'm rating this as neutral even though I'm bullish because the downward trend is so strong that it's possible to continue trending lower beyond the long-term support.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.