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Red line - resistance
Green line- support
In a recent analysis of ours about our technical view on the chart of MA stock, we warned traders that price was approaching a major resistance area and there was increased danger of a reversal. In that analysis we also noted the bearish pattern MA stock price has formed and the increased chances of another pull back towards $300. MA stock price recently got rejected at the red resistance trend line and upper boundary of the descending triangle. Price is trading around $340 and if history repeats, the rejection at the red trend line will lead to a move to test the horizontal green support around $300.
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