Metaplanet stock price has imploded and moved into a deep bear market after falling by 55% from its highest point this year. It plunged to a low of  ¥800 in August, its lowest level this year. This article explores whether it is safe to buy Metaplanet shares.

Metaplanet Stock Technical Analysis Points to a Rebound

The daily timeframe chart shows that the Metaplanet share price has plunged in the past three months. On the positive side, the stock has formed a highly bullish falling wedge pattern. 

This pattern consists of two descending and converging trendlines, with a bullish breakout happening when the two lines near their confluence, which is happening. This explains why the Metaplanet stock…