MPL Medibank is poised for a good run soon. It is currently trading at the bottom range of the overall uptrend channel. Target: $3.45
SL: $ 2.87
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I took a step back to look at the 1W chart and realised something is amiss.This is my bearish take.
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1W chart also fit the EW leading diagonal. The trend is still bullish. Let's ride it up until it turns bearish. It has yet to break under the trend line i drew previously, we should bounce soon to complete D, then down to E and then an impulse again.
Trade outlook is medium to long-term hold.
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This is also a valid count. Note
Bullish divergence
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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.