MP - What will you do for me?

4 Agu 2023

MP closed the week with a hammer candle, if this is confirmed with next week's candle close, this would set a short term bottom for MP. Red lines above mark the potential target for this wave (1) off the lows. So far it is shaping up as a leading diag off the lows for wave i, suggesting this next wave iii higher will be robust (as long as the low at 20.21 holds). Area of interest before moving higher is 23.1 - 22.33, stop at 22.11 should offer enough of a cushion to allow any upside to play out while limiting your downside risks - 1 Would look for this to be a decent swing (even long-term hold) play 28/31/38 are the first set of targets. If those are achieved this would be the potential wave i of 1 of (1) out of the lows with wave (3) targets of 71/85/101/150. R:R is lovely. Daily closed with a morning star formation that suggest a low could be in. GLTA!