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Writer's pictureLester Davids

Mr. Price: Bullish Momentum Waning (3x Charts) - Friday, 23 August 2024

MRP chart #1 (from Sunday report) - big level there at ~R237-ish.



MRP chart #2 (as of today's close) - it's been trading into R237 the past two days, with a long term rising wedge. In addition, a very interesting candle (bearish engulfing).



MRP chart #3 - price (last close R232) extended vs 200-day SMA (at R176). Trading 31% above it's 200-day SMA. By historical measures, that appears extended to the upside.



 

Previous Post (Caution, New Longs)


Ticker: MRP

Pre-Market


Yesterday evening's reading via the Tactical Trading Guide has caught my attention:


As noted at the start of this week.


 

Previous Post (Friday, 16 August)

Real-Time: 10h11


  • Entering An Overbought Range On It's Weekly Chart

  • Recently High Bullish Momentum However, Now Most Overbought Since May 2021




Lester Davids

Analyst: Unum Capital

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