MRT trade ideas
MRT - LONG POSITION Hi Traders,
Marti's stock price has plummeted from $15 to $1. However, recently significant progress has been made in Turkey regarding the shared mobility law. This new legislation could have a significantly positive impact on Marti's stock.
Additionally, we are observing a narrowing triangle formation here, which indicates that the price may exhibit volatile movements in the short term.
We have a significant support level at $1.64. If the shared mobility law is not passed in Turkey, the next support level appears to be $1.26.
If the shared mobility law is passed, the price breaks upward, after the upward break of the symmetrical triangle, it would be healthy to wait for a retest before taking a long position.
The potential price movement after the retest corresponds to the difference between the upper and lower levels of the symmetrical triangle, which equates to a movement of approximately 35%.
