As part of the Changing the Lens series of Blog posts I wanted to show a few charts on $MAR with a different perspective on each. Let’s get right to a basic Daily chart:
As you can see above, $MAR has avoided the 50 Simple Moving Average below since early October and is currently Flagging/coiling in preparation for a potential new breakout. RSI continues to bump along the ceiling of 70.
Now let’s add a Rising Trend-line:
Looks like it is comfortably above the trend-line while price consolidates the recent up move. Now for a different look altogether. Let’s remove the trend-line and add Horizontal Support and Resistance lines:
The view above shows how price found resistance and has been hovering just below as it preps for a new breakout.