Long
Asensus Surgical Price movement
Updated
Strong Support: ASXC presents a strong buying opportunity.
Market Structure: The daily chart exhibits an inverse head and shoulders pattern.
Key Support Level: There is robust support at $0.27. If we close below this level, there's a significant risk of a sharp decline toward $0.18.
Major Resistance: A critical resistance line exists at $0.37. This level has been tested more than four times, weakening it progressively. A close above this line in the coming weeks could confirm the inverse head and shoulders pattern. Additionally, a large falling wedge is present, indicating a potential uptrend.
Stop Loss: Set at $0.27.
Profit Targets:
First Target: $0.47. At this point, it's advisable to take 20% of the profits.
Second Target: $0.65. Here, taking another 70% of the profits is recommended.
Final Target: $1.20. This is the stage where I suggest liquidating the remaining 100% of the position.
Risk Management: My strategy involves a structured plan for profit-taking at predetermined levels, which aids in managing risks and securing gains.
Please be aware that this analysis represents my perspective and is not professional financial advice. I am not a financial advisor. Each individual should research thoroughly and consider all risks before making investment decisions. Markets are inherently unpredictable, so informed and cautious trading is always advisable.
Market Structure: The daily chart exhibits an inverse head and shoulders pattern.
Key Support Level: There is robust support at $0.27. If we close below this level, there's a significant risk of a sharp decline toward $0.18.
Major Resistance: A critical resistance line exists at $0.37. This level has been tested more than four times, weakening it progressively. A close above this line in the coming weeks could confirm the inverse head and shoulders pattern. Additionally, a large falling wedge is present, indicating a potential uptrend.
Stop Loss: Set at $0.27.
Profit Targets:
First Target: $0.47. At this point, it's advisable to take 20% of the profits.
Second Target: $0.65. Here, taking another 70% of the profits is recommended.
Final Target: $1.20. This is the stage where I suggest liquidating the remaining 100% of the position.
Risk Management: My strategy involves a structured plan for profit-taking at predetermined levels, which aids in managing risks and securing gains.
Please be aware that this analysis represents my perspective and is not professional financial advice. I am not a financial advisor. Each individual should research thoroughly and consider all risks before making investment decisions. Markets are inherently unpredictable, so informed and cautious trading is always advisable.
Trade closed: stop reached
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