Hello all,
Could we see a big move sometime today? We are trading within the barriers of a descending triangle (usually is a bearish trend but can break in either way). We have a STRONG historical resistance at the 20k - 21k price range (Blue Line). We have a strong historical support around in the 12200-12600 range (The floor of the triangle). I believe a break down will end this pump. However a break upwards will shoots us to the resistance and that is where things gets VERY interesting. Hourly RSI looks like its headed into oversold territory, same with histogram. We shall see what happens. Currently using 21 EMA as support, and still trading well above the 200 and 55 EMA.
Now if we want to escape the technical analysis world and enter fundamentals, I will do so. Last week ENJ announced a partnership with Samsung and 10x in 10 days. Yesterday GRS announces partnership with MasterCard and reveals its own debit card and we 3x. You tell me which news sounds bigger, and if a 3x GRS pump in relation to ENJ's 10x pump is fair, or will GRS pump some more because fundamental analysis tells us this GRS MasterCard partnership is much bigger than ENJ's partnership.
Note: I am NOT a financial adviser nor do I provide any financial advice. This is a learning opportunity for me and you.