As of close monday, MEDH was displaying multiple oversold leaning technicals that could be signaling an upcoming bounce.
At this moment, MEDH is trading above 1 key line of potential support:
- 10-Day Simple Moving Average
Why is this important? When a profile trades above this line, traders may gain confidence from these levels holding as potential support for a continued vertical move.
What to watch over the next couple of weeks: 10-day Simple Moving Average & 20-day Simple Moving Average, When the shorter-term MA crosses above the longer-term MA, it’s a buy signal, as it indicates that the trend is shifting up. This is known as a “golden cross.”
- RSI near oversold area
- MACD crossover
- William%R oversold
In recent weeks, MEDH has been on a pullback since a February’s high of $0.039.
From current levels, that February high provides with huge upside potential over 300%.
Now, I’m not saying this profile is going to go surging to those levels today, but you need to recognize how much higher MEDH was trading in the recent term.
Plus, this pullback could be signaling a potential healthy reversal in MEDH’s future.
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