High seller pressure with gaps during the march month
Some bad news: "Shares in Beneteau fall 12.3%, headed for their worst day since September 2023, after the motorboat manufacturer said it expects weaker 2025 sales amid a business slowdown"
Bearish until 5.50
Long on MDM with a TP on 2.90
Weekly & Daily oversold RSI
Selling volume's reducing
Buying volume's increasing
All time low broken
Support levels broken
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At this state there's two possible scenarios: price falls until 2.00, or goes up to 2.90 (or even higher but I wouldn't try it).
Opening a long position on this is very risky right now, but why not try? The...
Short until 87.0 (support zone).
Strong selling pressure confirmed by two large red candles.
Recent green candle shows buyer hesitation (small body, upper wick).
No significant volume to support a bullish rebound.
RSI remains weak but needs surveillance.
Rebound lacking conviction.
I don't see any major support levels above 74.
Big red candle in the middle of 84 => can't go higher than this resistance level, high pressure of sellers.
Short with a TP at 74.
Warnings that makes me not sure: dividends coming soon so a lot of buyers will probably come + oversold RSI.
EURONEXT:ML will close two of it's factories in France, which means less expenses and more profits.
The stock is oversold on RSI, broke mulitple support levels and has now stopped on a major support level. Bearish the next few days/weeks as many "low profile" investors will sell their shares, the oversold state and the major support level should give the right...
