CM ENERGY TECH CO LTD stock forum
META 31/03/2023META - $211.94
Monthly (Bearish):
1) Monthly price closed above EMA 20 & EMA 50 (monthly)
2) Price barely breaks the monthly DTL
3) EMA 20 hasn't cross the EMA 50
4) Monthly Support $92.35
Weekly (Bullish)
1) Price touched the weekly EMA 200 (barely cracking up).
2) Price broke out 10 month DLT (starting 4 Apr 2022) and making reversal of trend. A HL was formed 13 Mar 2023 (a bullish flag)
3) Price broke the flag pattern on 13 Mar 2023. If X-to-X on weekly, next target is $247.57
4) Reservation point. EMA 20 haven't cross EMA 50. Doesnt' constitute a much bullish on weekly.
5) Weekly RSi approaching overbought zone
Daily (Bullish)
1) EMA20 > EMA 50 > EMA 200
2) 31/3 closing price cracked up the ascending traingle pattern form 16/3/2023
3) X-to-X target $220
hourly (Bullish)
1) Possible for intra-day or short- swing
2) Need to wait for retracement. Ideally 208-207 level
3) TF 15m there potential reversal level around $210.25 (Fibo 0.618 - TF15m)
Trading strategy:
1) Wait for TF15m/30m/1H to pull back at the 210.25, ideally 208-207 level (making a higher-low)
2) Go onto lower TF to analyze market structure, making HH and HL after the pull back to go LONG.
Potential levels:
EP: $208 (Fibo 0.5 - 0.618 = 1H)
SL: $206 ( TF15m nearest support)
TP: $220 (Previous day high)
RRR: 6
