MTB approaching channel support
M&T Bank Corp. (MTB) presently approaching channel support, able to absorb weekly selling pressures.
From here, (MTB) can gain strength and trade higher eliciting gains of ~20% over the following 2 - 3 months.
If a weekly settlement above the overhead channel occurs, this would lead to a long-term buy signal in (MTB) into later year.
Inversely, closing below channel support puts (MTB) into a sell signal where losses of 20% would be anticipated over the same time horizon.
From here, (MTB) can gain strength and trade higher eliciting gains of ~20% over the following 2 - 3 months.
If a weekly settlement above the overhead channel occurs, this would lead to a long-term buy signal in (MTB) into later year.
Inversely, closing below channel support puts (MTB) into a sell signal where losses of 20% would be anticipated over the same time horizon.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
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