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

By Patricia Miller

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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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Metal Tiger

Author: Patricia Miller

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.