Short

MKD Possible formation of the new value zone -Sell off to $0.28?

Updated

Thanks for your time reviewing my chart . Look at the down channel on the chart, as you can see that MKD is approaching the bottom of the down channel ,look (by zooming out) on the price action when MKD is touching the bottom of the channel.In my estimation MKD will create a new value zone with the bottom of it being at around $0.28 and the top at around $0.37 area .Possible bounce to the upside from $0.28 area to $0.32 area and if it pass the $0.32 area we can expect MKD to touch the value high of the forming value zone at around $0.37. If sell of continues then the next stop will be at around $0.21 zone . I measured time and size of the previous zones and time intervals when MKD is touching the bottom of the down channel and I think we have high probability of the mentioned above scenario . LOOK AT THE SCREEN SHOT BELOW FOR BETTER PICTURE(CLICK ON IT)
I currently do not have position in MKD but I am watching it . Not financial advice .

Note

Note

Potential entry between $0.28-$0.27 with TIGHT stop loss $0.26 and first target at around $0.36 , R/R ~ 1/4.5
Not financial advice

Note

Or better yet wait for the bounce from $0.27 area before getting in

RotanimreT

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