Mercedes-Benz Group AG
Panjang

#MBG Rebound from Key Support Level of Mercedes-Benz Group AG

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I decided to enter a long position based on the following reasons:

Key Support Zone: The price has reached a strong horizontal level around €52, which historically served as a significant support. It is expected that this level might once again act as a reversal point.

Oversold Conditions: The current downward movement appears sharp, which could indicate temporary oversold conditions and the possibility of a corrective rebound.

Historical Bounce from the Level: The chart shows that the price has repeatedly bounced off this level in the past, creating good entry points for long positions.

Anticipation of a Reversal Candle: There is a possibility of a reversal candlestick pattern forming soon (e.g., a pin bar or engulfing pattern), which would confirm my strategy.

Medium-term Growth Potential: If the level holds, the price could return to the upper boundary of the range (around €79), making the trade potentially profitable.

Risks: If the level breaks downward, it may signal the need to reassess the position and limit losses.


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