MMM7 Rallied by 135.01% by Bulls, May Move to Resistance Channel

MMM7 – 135.01% Growth

MMM7 has reportedly earned itself a 135.01% rally in the past 24-hours, which has elevated its price to a high of $2.71. Prior to the rally, the value of MMM7 was at a low of $0.9509 per MMM7.

The trend line for MMM7 had been traveling in a zig-zag pattern, as both sides kept competing for superiority. As the buyers tried launching a rally, the bears started selling MMM7, which kept moving the majority of the investors to the neutral side.

In the past 24-hours however, it was the bulls who launched a strong attack against the bears and proved their might. Even now, the bulls are aggressively buying MMM7 and they may continue moving with the trend to push MMM7’s value higher.

Technical Indicators for MMM7

The technical indicators for MMM7 are also pointing towards a bullish trend. The summary scale for MMM7 shows 73.44% of investors are willing to buy MMM7, while 15.97% of investors want to sell MMM7, and the rest are neutral.

This means that so far, the majority of the investors have moved to the bullish side, and they intend to stay there for a while. The relative strength index for MMM7 is at 75.54, which is also a strong indication of MMM7’s uptrend.

MMM7 may rise to $4.01

With such strong sentiments, the bulls may go for an even stronger rally, aiming to push MMM7 up to $3.16 per MMM7. As the momentum keeps building, the investors may continue adding more MMM7 to their wallets. This would again, push MMM7’s value up to $3.70, bringing MMM7 closer to the resistance channel.

The bulls will need to achieve another milestone, which would be the final barrier from the bears’ end defending the resistance channel. That particular barrier is $4.01, and the bulls will need to put in a lot of effort to beat the bears at this mark. If the bulls prevail, then MMM7 would hit and cross the particular mark, and start moving on the resistance channel.

MMM7 may dip to $1.97

On the other hand, the bears may try pulling the price of MMM7 below the $2.60 mark, they may start pulling MMM7 even lower. The bulls may try combating the bears and defend the $2.50 per MMM7 mark, but if they fail, then the bears may continue increasing their selling pressure.

They may continue selling at a higher level in order to create more dip in MMM7’s value. As the selling pressure grows higher, the value of MMM7 may get pulled down to $2.43 per MMM7.

Going forward, the bears may become even more dedicated in dragging down the price of MMM7 down to the second support mark ($2.19). Going forward, the RSI and moving averages for MMM7 may move into the bearish zone, bringing MMM7 down to $1.97.