MPI breaking the resistance. Is downward channel gone?

Is it a breakout from the downtrend channel for MPI? Looking at the chart, MPI broke from the resistance line (upper slope) with good volume. For few weeks now, MPI has been trading within the downward channel but today the confidence to go long for MPI is fueled by the breakout but some may wait for a possible Kijun Sen cross which will add more confidence. In case it will continue to soar, the Kumo or Cloud will be our challenge.

By the way, the upper slope is our newly found support. RSI or Relative Strength Index shows that MPI is still not overbought.


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