$JSEMTN - MTN: Is A Bottom In At 8700 cps? Early Speculative Buy
See link below for previous analysis.
MTN stock continued lower from the previous analysis.
The stock has caught a bid at 8700 and might have a relief rally, dead cat bounce, or a bottom could be in at 8700 and this could be the early stages of a longer-tern rally.
There is not much to support a thesis that a bottom is in as the bounce is not on high volume and there was no MACD/price convergence prior the bounce.
It's all about probabilities and risk management so any long trades should use 8700 as a stop-loss level.
MTN stock continued lower from the previous analysis.
The stock has caught a bid at 8700 and might have a relief rally, dead cat bounce, or a bottom could be in at 8700 and this could be the early stages of a longer-tern rally.
There is not much to support a thesis that a bottom is in as the bounce is not on high volume and there was no MACD/price convergence prior the bounce.
It's all about probabilities and risk management so any long trades should use 8700 as a stop-loss level.
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