ARMP 2/9/2021
Updated
Analysis:
Daily Chart- After long downtrend, price went on a sideways market between 2.67-4.77 lasting 771 days. On 1/28/21, price made a strong move north breaking past Resistance Area of 4.77. There is currently a Golden Cross further exhibiting the buyer strength. Price has remained above resistance and has formed a Bullish Pennant pattern with higher lows into small resistance area of 5.96. The price also has the support of the 10ma signaling a very strong strength of the current move.
Entry: 6.12
Stop Loss: 5.11(-14%)
Initial Target: 14. Will trail with 10ma on daily
Daily Chart- After long downtrend, price went on a sideways market between 2.67-4.77 lasting 771 days. On 1/28/21, price made a strong move north breaking past Resistance Area of 4.77. There is currently a Golden Cross further exhibiting the buyer strength. Price has remained above resistance and has formed a Bullish Pennant pattern with higher lows into small resistance area of 5.96. The price also has the support of the 10ma signaling a very strong strength of the current move.
Entry: 6.12
Stop Loss: 5.11(-14%)
Initial Target: 14. Will trail with 10ma on daily
Trade closed: stop reached
Stopped on 3.3.21 at 5.11(-14%)Note
Price has found support at 4.77. Reentering trade.Entry: 4.80
Stoploss: 4.35(-9.39)
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.