Monaco (MCO) looks poised to explode out of a very long descending triangle. Several times it has bounced off of the 0.886 fib for support as of late. My thoughts are to buckle-up for a nice ride.
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Monaco has been running along the descending trend line and the volume has shrunk. Shouldn't be too much longer before it takes off!
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MCO is now using the former resistance as support! RSI is showing it to be at an oversold level and volume is increasing. All good signs despite the way BTC has been moving!
@jbolduc, that is super hard to tell. That triangle is really really pinching prices. If the price stays inside then roughly, possibly 5 days. That was just from counting the candles it would take to fill the triangle on the daily chart. That would be my thoughts. It's time for MCO to take a crap or get off the pot!
kxiong0613
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@smartincomepaths, totally agree. been HODL this for 2weeks now.
GannJourneyman
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Nice! My bags are packed and ready!
MCO: Where to good sir?
Me: To the Moon, please...
kayv3n
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@kxiong0613, 2 weeks is not a long time to be "HODL"ing. be patient man.
professional_n00b
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@smartincomepaths, fingers crossed, it's a fair % of my portfolio.