MNS - Chart Thread, page-353

For those interested in the MNS chart:

• After breaking its Nov 21 to July 22 downtrend, MNS decisively broke that downtrend line in late August
• We have since seen a classic charting back-test of the down trend where the old resistance now became support.
• Note in particular the turning point back up in October which was at the intersection of the down trend line and the uptrend line from the June/July higher lows.
• All of these collectively suggest that this breakout from the Nov 21 to July 22 downtrend is a significant move.
• From an Eliott Wave perspective, as I have previously posted, I believe the move from April 2020 (5c) to Nov 2021 (75.5c) constituted Wave 1 which unfolded over 84 weeks. Then the move from Nov 21 to July 22 was the Wave 2 correction which unfolded over 32 week (38% of the time of Wave 1).
• The recent chart strength and price action suggests we are in the early stages of Wave 3.