$MTC: The last close at $2.38 shows a significant increase from the MA30 of $1.03 and MA50 of $0.98, indicating strong upward momentum. However, the RSI at 72.15 suggests that the stock is overbought, which could lead to a price correction. The 60D high of $3.89 provides a potential resistance level, while the 60D low of $0.25 indicates a strong support base.
Directional bias is bearish in the short term due to the high RSI, which may lead to profit-taking. Suggested entry could be around $2.20, with a stop loss at $2.00 to manage risk. Target 1 can be set at $2.80, near previous resistance, and Target 2 at $3.50, approaching the 60D high.
Monitor for any changes in momentum or market sentiment that could affect these levels.
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