MOTR is at the end (?) of a very massive falling trend. In fact we can't state decidedly, that this is the end of the free fall. One year earlier the price was 32. Now, after a huge raise, the price is 2. But yesterday the paper did something rare: it formed a higher high (1), broke above the 50-day moving average (2) and exceeded the bottom of the previous base (3). The volume was big enough to be optimistic in short-term at least.
Naturally this brand new uptrend is quite fragile yet, but until the bottom of this big white candlestick holds, short positions should be avoided. Since the downtrend is (was) very dynamic, the correction upwards is expected to be similar. It means, that testing of the broad gap (see the chart) ain't gonna be a big surprise in the next days, although it implies 60-100% raise.
Naturally this brand new uptrend is quite fragile yet, but until the bottom of this big white candlestick holds, short positions should be avoided. Since the downtrend is (was) very dynamic, the correction upwards is expected to be similar. It means, that testing of the broad gap (see the chart) ain't gonna be a big surprise in the next days, although it implies 60-100% raise.
I think, that the top of the gap would likely stop the first wave, but if the positive market-mood holds on for some weeks, MOTR could also reach the next strong resistance at 7.50.
Below today's low (1.73), long positions should be dropped, because in this case the local minimum would probably be tested again.
The indicators also supports the possible uptrend. We can observe positive divergence both in instance of RSI and MACD.
The paper is very volatile, so you should trade very carefully, but i think, this is a good oppotunity to take some profit.
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