Trade setup: Remain in an Uptrend. It pulled back briefly but made a Higher Low (sign of Uptrend) and broke back above $0.15 key level. Momentum has inflected bullish (MACD Histogram bars are rising). Price is now approaching our near-term target $0.194 for a +25% gain. Now we look for the right entry opportunity in Uptrend. We wait for price to either 1) break above $0.20 to signal continuation of uptrend, or 2) pull back near $0.15 support for another swing trade entry in Uptrend with +25% upside potential back to $0.194.
Pattern: Price is Approaching Resistance, which is a level where it could pause or reverse its recent advance, at least temporarily. Resistance is often a level where price got rejected in the past, or potentially prior Support level that was broken. (concept known as polarity). Once price breaks above resistance, it can advance higher to the next resistance level. Learn to trade key levels in Lesson 7.
Trend: Short-term trend is Strong Up, Medium-term trend is Up and Long-term trend is Strong Up.
Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $0.15, then $0.13. Nearest Resistance Zone is $0.194, then $0.24.
Pattern: Price is Approaching Resistance, which is a level where it could pause or reverse its recent advance, at least temporarily. Resistance is often a level where price got rejected in the past, or potentially prior Support level that was broken. (concept known as polarity). Once price breaks above resistance, it can advance higher to the next resistance level. Learn to trade key levels in Lesson 7.
Trend: Short-term trend is Strong Up, Medium-term trend is Up and Long-term trend is Strong Up.
Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $0.15, then $0.13. Nearest Resistance Zone is $0.194, then $0.24.
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