MET analysis, Elliott Wave, Fib, wedge

MET seems to be going through a solid breakout from a downwards channel. This retracement has also occurred at 38.2%, allowing for decent upwards movement. There has also been an increase in volume in the past 2 days, allowing for the change in the direction of the price action. According to my Elliott Wave analysis, the stock is going through it's own middle of a 3rd wave that is part of a large new 3rd wave taking place (after a complete 1-2-3-4-5, A-B-C). There is also a rising wedge, or a triangle tilted upwards, in technical analysis, this indicates that the price will move lower. However, the stock is attempting to breakout towards the upper part of the triangle, rather than remaining on the lower area where it could continue to further downside. According to GuruFocus, there are issues with the stock's fundamentals, as revenue declines, debt increases, income decline, and other signs that the stock is approaching major resistance levels while dividends are at lows. The company has growth issues, along with problems in their financials. There are numerous large investors with high amount of shares in this company, however the majority of recent trades have been sales of their shares in the company. There are some buyers and investors increasing their amount of shares, but these trades can possibly be the necessary change in the share price to allow prices to continue on higher rather than falling too far to dangerous levels.

This analysis comes after Trading View user, 'pardis' has identified a breakout. I have not yet entered long, however I plan to attempt an entry which can lock in profits, while adding to the position later on. This may be considered 'picking tops and bottoms,' however with a day trading position rather than an 'investor outlook' on the company it isn't irrational to try an entry which may or may not work out.