Respecting the EMA 50 wall here and keeping a close eye on key support levels as the setup continues to play out.
Important observation: Price action has consistently failed at the EMA 50 resistance level -- a pattern that's played out multiple times now, including the most recent rejection. In the current skittish environment, no real reason to expect this time to be any different.
I’ve also highlighted two key support levels:
S-1 at $1.18
S-2 at the 52-week low of $0.88
I've traded in and out of this name a few times with solid profits simply by respecting the technicals and price action. Just sharing the setup, FWIW. Staying disciplined in this market matters.
Stay tuned. 👀
Important observation: Price action has consistently failed at the EMA 50 resistance level -- a pattern that's played out multiple times now, including the most recent rejection. In the current skittish environment, no real reason to expect this time to be any different.
I’ve also highlighted two key support levels:
S-1 at $1.18
S-2 at the 52-week low of $0.88
I've traded in and out of this name a few times with solid profits simply by respecting the technicals and price action. Just sharing the setup, FWIW. Staying disciplined in this market matters.
Stay tuned. 👀
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.