📉
🔹 Ticker: MTH (NYSE)
🔹 Setup: Bearish Wedge Rejection + Resistance Flip
🔸 Rejection Zone: ~$69.00 (yellow zone + wedge trendline)
📊 Trade Plan (Short Bias)
✅ Entry Range: $68.85–$69.10
✅ Stop Loss (SL): Above $72.03 (white resistance level)
✅ Profit Targets:
• TP1: $65.21 (green minor support)
• TP2: $62.05 (prior support base)
• TP3: $59.66 (orange key demand level)
📐 Risk-Reward Notes
• Price rejected wedge top with bearish confirmation
• Support flipped into resistance at yellow zone
• Volume fading on retest = potential breakdown setup
• Room for downside toward major supports
🔍 Technical Highlights
• Clean rejection at wedge resistance
• Failed breakout = bearish pressure
• Lower highs forming structure breakdown bias
⚙️ Trade Management
• Trail SL after TP1 hit
• Scale out partials at major supports
• Watch for increased bearish volume on move below $68
⚠️ Setup Invalidation
❌ Breakout and close above $72.03
❌ Strong bullish candle with volume
❌ Price consolidates above wedge and horizontal zone
🔹 Ticker: MTH (NYSE)
🔹 Setup: Bearish Wedge Rejection + Resistance Flip
🔸 Rejection Zone: ~$69.00 (yellow zone + wedge trendline)
📊 Trade Plan (Short Bias)
✅ Entry Range: $68.85–$69.10
✅ Stop Loss (SL): Above $72.03 (white resistance level)
✅ Profit Targets:
• TP1: $65.21 (green minor support)
• TP2: $62.05 (prior support base)
• TP3: $59.66 (orange key demand level)
📐 Risk-Reward Notes
• Price rejected wedge top with bearish confirmation
• Support flipped into resistance at yellow zone
• Volume fading on retest = potential breakdown setup
• Room for downside toward major supports
🔍 Technical Highlights
• Clean rejection at wedge resistance
• Failed breakout = bearish pressure
• Lower highs forming structure breakdown bias
⚙️ Trade Management
• Trail SL after TP1 hit
• Scale out partials at major supports
• Watch for increased bearish volume on move below $68
⚠️ Setup Invalidation
❌ Breakout and close above $72.03
❌ Strong bullish candle with volume
❌ Price consolidates above wedge and horizontal zone
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.