Trading Range; Support Trend-Line

[Neurobroker]

MTW is forming a trading range between $39-$34 dollar levels. Strong support can alos be expected at the blue support trend-line. 7-21-90 days Simple Moving Average turned up indicating that trend up is likely to persist.


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[joop]

It has also just broken its upward trendline on the daily chart, with the last few days trading forming a bearish deliberation pattern. Resistance will be found around the previous swing high at 40, and up to 44 - the previous major high shown on the chart below. Only if price breaks 44 would you wanna get long. A close below 34 would give an opportunity to get short on the next rally. Now is not a good time to buy.