📊 Technical Overview:
DNA stock is currently trading inside a well-defined ascending channel, bouncing between support and resistance levels. After a sharp pullback, the price is now testing a critical support zone around $12.50-$12.70 – a key decision point for traders.
🔍 Key Technicals:
✔ Strong Uptrend: Despite the recent drop (-7.92%), the stock remains within its bullish channel.
✔ Support Retest: Holding above $12.50 could trigger a strong bounce toward the upper channel at $17.19.
✔ ADX Strength: ADX at 31.98 indicates a strong trend—momentum is here, but will the bulls step in?
✔ Stoch RSI Oversold: Currently at 24.49, hinting at a potential reversal opportunity.
🚨 Trading Plan:
📌 Bullish Scenario: If support at $12.50 holds, expect a rebound towards $17.19 (next resistance level).
📌 Bearish Scenario: A breakdown below $12.50 could push the stock lower to $11.00 before finding new buyers.
🔥 Risk-Reward Ratio in Favor of Bulls! With a stop-loss near $11 and a target at $17.19, this setup presents an attractive risk/reward opportunity for traders looking to capitalize on a potential breakout.
💬 What’s your move? Are you buying the dip or waiting for confirmation? Drop your thoughts below! 🚀📈
DNA stock is currently trading inside a well-defined ascending channel, bouncing between support and resistance levels. After a sharp pullback, the price is now testing a critical support zone around $12.50-$12.70 – a key decision point for traders.
🔍 Key Technicals:
✔ Strong Uptrend: Despite the recent drop (-7.92%), the stock remains within its bullish channel.
✔ Support Retest: Holding above $12.50 could trigger a strong bounce toward the upper channel at $17.19.
✔ ADX Strength: ADX at 31.98 indicates a strong trend—momentum is here, but will the bulls step in?
✔ Stoch RSI Oversold: Currently at 24.49, hinting at a potential reversal opportunity.
🚨 Trading Plan:
📌 Bullish Scenario: If support at $12.50 holds, expect a rebound towards $17.19 (next resistance level).
📌 Bearish Scenario: A breakdown below $12.50 could push the stock lower to $11.00 before finding new buyers.
🔥 Risk-Reward Ratio in Favor of Bulls! With a stop-loss near $11 and a target at $17.19, this setup presents an attractive risk/reward opportunity for traders looking to capitalize on a potential breakout.
💬 What’s your move? Are you buying the dip or waiting for confirmation? Drop your thoughts below! 🚀📈
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.
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.