M&M

M&M

M&M charts looks pretty interesting. Chart says it is forming a ROUNDING TOP. For almost 2 months stock looks in down trend while forming Rounding Top. Stock may see 969 to 970 levels in these 2 days where we can Initiate Short positions or one can wait until channel breakout /breakdown to take new positions. If at all stock could not give break out above 970 levels from current down ward trending channel, we can go short at those levels to see lower levels of 888 to 814 levels.

If stock gives breakout above 970 levels then one can go long to see targets at earlier highs of 1036.