Why you want to be long - MMM came up in new trend in 2016. and made ATH 2 years later in 2018., after he fell on support line on 2020. due to the corona crisis
As we can see It was take 2 years from support to the resistance levels and again to support. We are coming in 1/4 of year and MOM is a halfway to ATH .
What we need to do now is looking will MMM get on ATH level a little bit faster than previous years, or maybe we will get some correction before reaching ATH .
But in short period PT maybe will be at Fibos. approx. $205. with "HH" and "HL" and creating new ascending triangle before next movements.
Thank you for reading my analysis, give some support to the new TA trader with press like button and leaving some comments :)
MMM
As we can see It was take 2 years from support to the resistance levels and again to support. We are coming in 1/4 of year and MOM is a halfway to ATH .
What we need to do now is looking will MMM get on ATH level a little bit faster than previous years, or maybe we will get some correction before reaching ATH .
But in short period PT maybe will be at Fibos. approx. $205. with "HH" and "HL" and creating new ascending triangle before next movements.
Thank you for reading my analysis, give some support to the new TA trader with press like button and leaving some comments :)
MMM