MNST - Monster with a monstrous drop?

٦ سبتمبر ٢٠٢٣

Nah, not monstrous, but a drop maybe.

What do we have in this chart?

The up-sloping Fork projects the most probable path that price takes. So, it's up, until price is falling out of the Pitchfork.

Next, the A/R or Action/Reaction lines (slight blue).
All they do is measure a pullback action and project the corresponding reaction.

As we see, the A/R line above the last high is not touching price, but it gives kind of a resistance to price.

Then we have price itself: A huge bunching is happening up there. And, price crossed below the Center-line a couple weeks ago and is currently trading below it, with support of the EMA(30).

So we land at the Indicators and Oscillators:
The MACD crossed negative weeks ago. And this time the negative indication is longer than the last two times.

The Mansfield Indicator shows weakness compared to the S&P500, and the RSI has taken a dive weeks ago.

All this leads me to believe that we see bigger correction in MNST. Maybe not a monstrous one, but a correction down to the L-MLH.

Play it save if and don't let greed eat your brain §8-)

٦ أكتوبر ٢٠٢٣

أغلقت الصفقة: تم الوصول للهدف

Closing the trade today.