Trade setup: Price is in a downtrend, trading below 200-day moving average (~$1.87). However, it's trading in a Falling Wedge pattern, which typically resolves in a bullish breakout and a trend reversal. We wait for a breakout, above $1.80 level and 200-day MA to resume an Uptrend, with +40% upside potential to $2.50.
Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8.
Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
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 $0.95. Nearest Resistance Zone is $1.90, then $2.50.
Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8.
Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
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 $0.95. Nearest Resistance Zone is $1.90, then $2.50.
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.