Stop losses have pushed the stock as low as its 100 day moving average before finding support at its 50 day. (see chart)
RSI is not oversold yet, but it is approaching - if we hold 50 day moving average(1.85) then it should be a good buying opportunity.
Fundamentally only two analysts have come out with reports - CS & JPM - both maintaining buy and targets 2.40 & 2.25 respectively.
My take - we could go alittle lower before bottoming - 1.75 perhaps but I do like support at the 50 day moving average. I also like that levered longs have most likely been taking out on this aggressive swing lower. Close will be important - but I personally have taken a position here and will add at 1.75 if we drop that low.
Goodluck,
PB
MTS Price at posting:
$1.87 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)