On the left we have the 4 last major Daily move. (Green and red arrow) We can see on the Daily RSI that we broke the Trend line of the daily momentum = possible changing momentum to the up side
On the right we can see a formation of (L H HL HH) We broke a smaller chanel = Bullish signal We broke the daily 21 SMA = Bullish signal
Possible buying opportunity:
buying the stock near the 0,618 (Golden ratio) of the last HH in confluence with the end of the high liquid level I keep in mind that we can retrace to lower price like 11-10 $. if this happen I want confidence on the Bull side
If I dont see 'strong' buying activities aka quick rebounce from the 11-10 $ level. It mean that the Daily 21 SMA could return to the bear side and this can cascade to a bearish continuation and who know how far this stock can dip before actually forming it 2022 low..
knowing that, I also keep in mind that it totally possible that we are currently forming the 2022 low...
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