Second analysis – ADABTC –breaking above Structural S/R, price acceptance at this level will be bullish.
Points to consider, - Bullish Price Action - Daily S/R Support - 200 EMA Resistance - Stochastics Equilibrium - Declining Volume
ADABTC’s current price action is bullish, trading in a probable bull flag, This allows us to have a bullish bias on the market.
The Daily S/R is immediate support that is in confluence with the .618 Fibonacci. Price holding and respecting this level is a bullish bias.
Resistance is poised by the 200 EMA, breaking this will coincide with price hitting technical and validating the bull flag.
The stochastics is in a valid equilibrium, a break in either direction will coincide with price movement.
The volume profile is declining, this is indicative of an influx when testing key levels such as the Flag and Daily S/R resistance.
Overall, in my opinion, ADABTC is a valid long with defined risk, price action is to be used upon discretion/ management of trade Hope this analysis helps
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