PIPPIN is trading into a well-defined resistance area where supply could begin to appear. From a technical perspective, it is a reasonable location to look for short exposure, even if some volatility or brief spikes happen.
If rejection develops, we have three important support levels below that can serve as potential targets. These zones may generate temporary bounces, making them logical areas for trade management or partial profits.
The idea remains valid while price stays capped by resistance. Acceptance above would weaken the short thesis.
Let’s see how the reaction unfolds.
If rejection develops, we have three important support levels below that can serve as potential targets. These zones may generate temporary bounces, making them logical areas for trade management or partial profits.
The idea remains valid while price stays capped by resistance. Acceptance above would weaken the short thesis.
Let’s see how the reaction unfolds.
Nota
If a trader wants to take more risk while aiming for a faster trade, the stop can be placed above the most recent high, around 0.57–0.59. Approximately 0.588 could be acceptable.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.