$MED - RC -
Added 2023-12-29 01:16:07 +0000 UTC$MED has declined aggressively since the highs in early 2021 and has struggled ever since to find a bottom to consolidate, it has also struggled to hold a yellow support line too.
The Blue line indicates the Covid Low at $50 and we can see that the wedge is indicating a tightening position around $50.
I do not see any other direction yet until this wedge has broken down or broken out, until then, the price can drift down to $50.
The 200 Day MA is following the top wedge line too, so this is an important resistance level to break out from to show signs of reversing.
Comments
They cut their excellent divi also recently. Not touching it after that.
crazycharts27
2023-12-29 01:18:43 +0000 UTC
