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Red line -resistance
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MA stock price is trading around $310. Since price was trading around $365 we warned traders that the rejection could lead to a decline towards $300-$310. The time has come for bears to be cautious. The $300-$310 zone is very important horizontal support that has not broken since 2021, despite being tested two times. Will the third time be the one we see a break down? If bulls manage to defend the horizontal support around $300, then we could see a strong bounce towards $350. Bulls are expected to take positions with stops placed around and below $300. The horizontal support has so far been respected. Until broken, bulls have hopes for another test of the red downward sloping trend line resistance.
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