“ME plummeted over 10%, where is the bottom?”
Market Analysis:
ME has recently continued to decline, breaking through multiple support levels, with bears clearly dominating. Currently, short-term sentiment is somewhat pessimistic, but if it stabilizes at key support levels, there may be an opportunity for a rebound.
Support and Resistance Levels:
• Support Levels: 3.20, 2.95, 2.70
• Resistance Levels: 3.50, 3.80, 4.00
Short-term Trading Strategy:
Long Strategy:
• Entry Point: 3.20
• Add Position Point: 2.95
• Stop Loss Point: 2.65
• Take Profit Targets: 3.50, 3.80, 4.00
• Position Allocation: 50%-30%-20%
Short Strategy:
• Entry Point: 3.50
• Add Position Point: 3.80
• Stop Loss Point: 4.10
• Take Profit Targets: 3.20, 2.95, 2.70
• Position Allocation: 50%-30%-20%
My Prediction:
The current bearish force on ME is strong, and there is a high likelihood of further decline in the short term. It is recommended to short on rallies, watching for rebound opportunities at the resistance level of 3.50.
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