MBLY has been in a descending channel all of 2024 and is looking very weak. Since Intel took the company public at around $28, it has mostly consolidated up until 2024, when the decent began. It has been touching the lower channel line for the last month, and it is only a matter of time before it breaks to the downside. And break it will. Revenue is down, profitability is way down, and the company is experiencing heavy headwind, particularly in China. I expect MBLY to continue down, with no target. Price is at ATL, so there is no bottom. My take is short.Note
Not too much to say about MBLY.. Price has moved a little to the upside, and crossed over the EMA21, RSI is rising but nowhere near overbought. My take is this is not changing anything, so maintaining my bearish view.Trade closed manually
Price is at channel roof, but to little is happening. Moving on.
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.
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.