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