⚽ MANU (Manchester United) 1W: Patience Pays in a Range-Bound Market! 📉📊
Hello traders! 👋 Here is a quick, high-probability setup I am watching for
MANU on the weekly timeframe. 🗓️👀
🛠️ The Technical Setup:
As you can see on the chart, the price is currently testing a heavy resistance zone 🛑 at the top of our established horizontal channel ↔️. With the RSI pushing into overbought territory 🌡️📈, a strong rejection from this upper boundary looks highly likely. 📉 We are anticipating a classic zigzag oscillation back down through the channel. ⚡
💼 The Fundamental Confluence:
This technical view is perfectly backed by the company's fundamentals! 📝 Looking at the income statement, historical revenue has remained relatively stagnant and flat over the long term 🏢📊. Without a major catalyst in massive revenue growth, and with heavy debt keeping a ceiling on profitability 📉💸, an aggressive, sustained breakout just doesn't make sense right now. ⚖️
🎯 The Trading Plan:
The strategy here is strict discipline! 🧠🛡️
Instead of chasing the price at the top, I am waiting patiently for the drop. ⏳📉 I will only look to initiate LONG POSITIONS 🛒 once the price pulls all the way back to our rock-solid support level around $12 – $13. 🟢🧱
Hello traders! 👋 Here is a quick, high-probability setup I am watching for
MANU on the weekly timeframe. 🗓️👀🛠️ The Technical Setup:
As you can see on the chart, the price is currently testing a heavy resistance zone 🛑 at the top of our established horizontal channel ↔️. With the RSI pushing into overbought territory 🌡️📈, a strong rejection from this upper boundary looks highly likely. 📉 We are anticipating a classic zigzag oscillation back down through the channel. ⚡
💼 The Fundamental Confluence:
This technical view is perfectly backed by the company's fundamentals! 📝 Looking at the income statement, historical revenue has remained relatively stagnant and flat over the long term 🏢📊. Without a major catalyst in massive revenue growth, and with heavy debt keeping a ceiling on profitability 📉💸, an aggressive, sustained breakout just doesn't make sense right now. ⚖️
🎯 The Trading Plan:
The strategy here is strict discipline! 🧠🛡️
Instead of chasing the price at the top, I am waiting patiently for the drop. ⏳📉 I will only look to initiate LONG POSITIONS 🛒 once the price pulls all the way back to our rock-solid support level around $12 – $13. 🟢🧱
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.