Pundi X Can Start Big Bull Run After This Extreme Bullish Signal
The SMAs:
On the daily time frame chart, the price action of Pundi X has first time broken out the 25 simple moving average and made an attempt to break out the 50 simple moving average as well. But it is rejected by the 50 simple moving average and now currently moving between the 25 and 50 simple moving averages.
Support and resistance levels:
There can be different support and resistance level seen on the daily time frame chart. After the strong bearish move, the price action of Pundi x has found a very strong support at $0.60. This $0.60 level is also key level support for the priceline. After getting bounced by the $0.60 the priceline has crossed up the next resistance of $1 and currently moving between the $1 and $1.30 supports and resistance levels.
EMAs:
On the daily time frame, the price action has also broken out the exponential moving averages with the time period of 10 and 21. At this time the priceline is retesting these EMAs as support. If the price action of Pundi x will be successful in retesting these EMAs as support, then these two exponential moving averages can work as very strong supports and lift candlesticks towards the upside very well.
Ichimoku cloud:
Now I would like to show you the Ichimoku cloud on the daily time frame chart. It can be clearly observed that the bearish cloud is getting weaker and the price action is getting closer to the bearish cloud. The conversion line has crossed up the baseline below the candlesticks that is a very good buying signal. The lagging span is crossing up the candlesticks. Now if the candlesticks will be able to cross up the bearish cloud then there can be a very long-term bullish rally started. Previously on the NPXS chart when the price of NPXS or old PundiX crossed up the bearish cloud on the weekly time frame. Then it surged more than 6000%. Now after crossing this bearish cloud on the daily time frame we can expect such rally again.
Conclusion:
Even though the price action has broken out the $1 resistance and the 25 simple moving average along with the exponential moving averages on the daily time frame. However, the long-term bullish rally depends on breaking out the bearish cloud on the daily time frame.
On the daily time frame chart, the price action of Pundi X has first time broken out the 25 simple moving average and made an attempt to break out the 50 simple moving average as well. But it is rejected by the 50 simple moving average and now currently moving between the 25 and 50 simple moving averages.
Support and resistance levels:
There can be different support and resistance level seen on the daily time frame chart. After the strong bearish move, the price action of Pundi x has found a very strong support at $0.60. This $0.60 level is also key level support for the priceline. After getting bounced by the $0.60 the priceline has crossed up the next resistance of $1 and currently moving between the $1 and $1.30 supports and resistance levels.
EMAs:
On the daily time frame, the price action has also broken out the exponential moving averages with the time period of 10 and 21. At this time the priceline is retesting these EMAs as support. If the price action of Pundi x will be successful in retesting these EMAs as support, then these two exponential moving averages can work as very strong supports and lift candlesticks towards the upside very well.
Ichimoku cloud:
Now I would like to show you the Ichimoku cloud on the daily time frame chart. It can be clearly observed that the bearish cloud is getting weaker and the price action is getting closer to the bearish cloud. The conversion line has crossed up the baseline below the candlesticks that is a very good buying signal. The lagging span is crossing up the candlesticks. Now if the candlesticks will be able to cross up the bearish cloud then there can be a very long-term bullish rally started. Previously on the NPXS chart when the price of NPXS or old PundiX crossed up the bearish cloud on the weekly time frame. Then it surged more than 6000%. Now after crossing this bearish cloud on the daily time frame we can expect such rally again.
Conclusion:
Even though the price action has broken out the $1 resistance and the 25 simple moving average along with the exponential moving averages on the daily time frame. However, the long-term bullish rally depends on breaking out the bearish cloud on the daily time frame.
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