Weekly chart of MNST
50 is a strong support level of MNST. This had acted as a strong resistance level, which MNST had tried to break in April, August, December 2021 and then again in July 2022. Finally, it had succeeded in its fifth attempt in November 2022.
After a steep descent, MNST is getting support at the 50 level. MNST has lost support of 200 SMA. It is, therefore, very likely that MNST will lose support of 50.
Next support is at 45, which is also .618 retracement of uptrend since March 2022. Overall market is weak. So, I don't rule out that MNST may fall even further.
50 is a strong support level of MNST. This had acted as a strong resistance level, which MNST had tried to break in April, August, December 2021 and then again in July 2022. Finally, it had succeeded in its fifth attempt in November 2022.
After a steep descent, MNST is getting support at the 50 level. MNST has lost support of 200 SMA. It is, therefore, very likely that MNST will lose support of 50.
Next support is at 45, which is also .618 retracement of uptrend since March 2022. Overall market is weak. So, I don't rule out that MNST may fall even further.