Trade setup: Price is in an Uptrend. Following a bullish breakout from a Channel Down pattern, price has reached our target of $0.65 for a 17% gain. Now we wait for price to either
1) break above $0.68 resistance to signal continuation of uptrend, or
2) pull back near $46 support for another swing entry in Uptrend with upside potential back to $0.65. Now we wait for a potential pullback to $0.46 support for another swing trade entry in Uptrend.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.46 (previous resistance), then $0.40 - $0.42. The nearest Resistance Zone is $0.65 - $0.68, then $0.75.
1) break above $0.68 resistance to signal continuation of uptrend, or
2) pull back near $46 support for another swing entry in Uptrend with upside potential back to $0.65. Now we wait for a potential pullback to $0.46 support for another swing trade entry in Uptrend.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.46 (previous resistance), then $0.40 - $0.42. The nearest Resistance Zone is $0.65 - $0.68, then $0.75.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.