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Metal Tiger consolidates ahead of entering a decisive share price zone (MTR)

Metal Tiger’s (LSE:MTR) chart is starting to look interesting. Its share price has been consolidating above 2p for the past 6 weeks while reaffirming its position in the purple upward channel shown.  It’s clear the price action is honing into a decisive zone over the next couple of months, with a clear downward diagonal level of resistance required to progress.

The Relative Strength Index (RSI) is just poking its head above 50 which is generally positive with a breakout north targeting 3.2p based on its existing trend trajectory. Any fall out of the channel would see longer-term support called upon at around 1.85p.

Author: Stuart Langelaan

Disclosure: The author of this piece does not own shares in the company mentioned

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