Bullish
$MRNS swing update post Daily: Every time the bull flag had a pullback, it always bounced off a strong level of support(usually they were near an sma line. Once again history is repeating because it had a nice hammer bounce off the 20 sma. The current trend shows that its climbing upwards as if it were going up the stairs. Its also apparent that major resistance is at around 2.60(200 sma) and resistance of the rising wedge. Lets see if the weekly chart paints a similar story. Weekly: Yet another bull flag pullback and its holding major support level really well. The 20 sma is aggressively curling upwards along with the MACD and RSI. The weekly resistances agree with the daily saying that 2.60s will be tough to break. Based on the daily and weekly, we should sell/scale at around 2.40-2.60s imo but there is room to test 2.80(50 sma on weekly) and 3.00 esp since theres a upcoming catalyst. As long as this holds 2.00s, its only a matter of time till this runs imo. My avg is 2.09.
  • 8
  • 3