SKL has been moving in a descending channel.
Prices are at break-out point.
As a reference setup:
- Target will be the next weekly resistance (+75% from here).
- SL will be below the current weekly support or the EMA 50D (-25% from here).
Note
SKL is breaking out. MFI indicates good buy pressureNote
SKL still resists although BTC drops. It would be good to enter when BTC bounces at $23600, if SKL is still above the trendline
Note
SKL is up 10% today after restesing the trendlineNote
SKL held well the trendline and now +30% upTrade closed: target reached
Target +75% hit
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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.