MARI Technical Analysis: Potential Buy Opportunity
MARI presents a compelling buy setup. The stock is in a confirmed uptrend, recently bouncing off a key trendline within the crucial 0.618-0.78 Fibonacci retracement zone, a key area of support. A bullish inverted hammer candlestick, followed by another positive candle, formed at this level, suggesting renewed upward momentum. The RSI confirms this bullish sentiment, aligning with the price action. Recommended entry points are at the current market price (583) and a secondary level at 484.16. A stop-loss below 378 on a closing basis is recommended for risk management. Target profit levels are 716, 880, and an open target for potential further gains. Happy trading!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.