Potential descending channel for MMED?
The green upward sloping line of support is potentially keeping a bullish flag in play here, but it appears as though downward pressure is indicating there may be a retest of the bottom blue channel where I have the red arrow pointing down.
KEY TAKEAWAYS
A descending channel is drawn by connecting the lower highs and lower lows of a security's price with parallel trendlines to show a downward trend.
Traders who believe a security is likely to remain within its descending channel can initiate trades when the price fluctuates within its channel trendline boundaries.
A more potent signal occurs with a breakout, which is when a security's price breaches an established channel's boundaries, either on the upper or lower side.
KEY TAKEAWAYS
A descending channel is drawn by connecting the lower highs and lower lows of a security's price with parallel trendlines to show a downward trend.
Traders who believe a security is likely to remain within its descending channel can initiate trades when the price fluctuates within its channel trendline boundaries.
A more potent signal occurs with a breakout, which is when a security's price breaches an established channel's boundaries, either on the upper or lower side.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.