empty
 
 
16.08.2022 04:38 PM
MA stock price testing important resistance area.

This image is no longer relevant

Red line -resistance

Blue line- horizontal support

MA stock price has reached the resistance area around $360 as expected by our earlier analysis at the end of July. Price is testing the upper part of the descending triangle pattern. This is major resistance. The RSI is making lower highs as price is making higher highs. There are increased chances we see another rejection at current levels or a little bit higher. There are increased chances we see another downward move towards $306. Bulls need to be very cautious. Support is at $346. A break below this level will increase chances of a move lower towards $300.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback