Updated
SAN update
If SAN breaks through the resistance (ATH) then it can rise further on to newer highs with accelariting speed.
Otherwise two other directions are possible as mentioned.
a) Break through support at 3.56$ - caution!; if price also falls under support at fib level 100 (3.44$) the short trend is broken
b) the price also can stay in a sidewards direction, within the lower fib speed resistance fan
Stop: no change
Otherwise two other directions are possible as mentioned.
a) Break through support at 3.56$ - caution!; if price also falls under support at fib level 100 (3.44$) the short trend is broken
b) the price also can stay in a sidewards direction, within the lower fib speed resistance fan
Stop: no change
Trade active
SAN is now in a sidewards direction. This is not bad. As I´ve got no new fundamental information we stay with TA.
1) Breakout to the top above 4.55$ = positive; aim 5.42$
2) continue sidewards = neutral
3) price is falling under lower line of descending triangle and support; STOP at 3.30$
MACD and RSI are positive so I see more probability for scenario 1
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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.