It looks like taking some profits around the 0.786 level (around 3.3) and 0.618 (around 4.18) could be a good move. As for the stop-loss, the previous low near 2.34 makes sense, which is about a 10% downside.
The trend line connecting the lows has been in place since way back in 2012, forming a long-standing channel — and if that holds, this area could be a really attractive entry point.
On top of that, the RSI has been showing a "Positive Divergence" pattern since December 2024, which adds even more weight to the bullish outlook.
The trend line connecting the lows has been in place since way back in 2012, forming a long-standing channel — and if that holds, this area could be a really attractive entry point.
On top of that, the RSI has been showing a "Positive Divergence" pattern since December 2024, which adds even more weight to the bullish outlook.
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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.