Where's Melrose Industries (MRON Stock) heading to?

AAATrade Team AAATrade

Today’s instrument is the Melrose Industries, a United Kingdom-based company focused on acquiring manufacturing businesses, traded in LSE under the ticker MRON.

Looking at its chart, we can see that MRON is in a downward trend in the past months, traded just below the 130 GBX.

At the end of the week, it is announcing its quarterly earnings, and if the market’s anticipation is positive, then we could expect it to test its resistance level at around 145 GBX otherwise it should test its first support level at around 125 GBX and if not able to hold above that level then it could reach its next support level at around 110 GBX.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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