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Meten EdtechX Shares Trade On Higher Volume: Technical Levels To Watch

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Meten EdtechX Shares Trade On Higher Volume: Technical Levels To Watch

Meten EdtechX Education Group Ltd. (NASDAQ: METX) shares were trading on increased volume in Friday’s trading session amid a company report of increased gross billing from its Junior ELT, or English language training, business. 

Meten Edtech X Technical Levels: The 15-minute chart below shows two potential key levels. The price level at $2.20 is where the price has previously found some support and could be a potential support level going forward.

The price level of $2.80 has previously held the price below and acted as a resistance level. To a technical trader, this means that it could potentially hold as a resistance level in the future.

Bullish technical traders would like to see a move above the resistance with a period of consolidation before another upwards move may be possible.

Bearish technical traders would like to see the support break with a period of consolidation below. This could allow a further downward move.

metx15min3-5-21.png

The daily chart is showing that the price is trading in what technical traders would call a channel between two different price levels.

The top price level near $3.40 has acted as a resistance after it broke through support in the past year.

The price is now having trouble closing above this level. Another potential key level is the $1.80 mark. The price has bounced off this price and moved higher multiple times in the past.

A bullish technical trader would like to see the resistance level break with a period of consolidation above before a further move higher.

A bearish trader wants the opposite. They would like to see the speculative support level break with consolidation before a possible further downward move. 

Meten EdtechX has a market cap of $34 million and a public float of 13.2 million shares.
metxdaily3-5-21.png

 

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