SVM to re-test strong resistanceat 0.12-0.14?
Updated
SVM showing potential for a move up towards established strong resistance above $0.10
On this hourly chart, watch for RSI to bounce off of RSIMA(30) as the SMA(50) closes in on the SMA(200) within the highlighted red box (or later, who really knows?).
On the daily chart, this will be seen as the SMA(50) rejecting a bearish golden cross.
Market Depth:
Appears bullish due to 1,962,873 Buying Volume to only 1,430,988 bearish volume.
BUT: note this is a highly illiquid low value stock, AND when we look at the bullish volume it is distorted by a buy order for 1,000,000 at 0.075, which would be a re-test of the late May low (but still a gain for the YTD).
What do you think?
On this hourly chart, watch for RSI to bounce off of RSIMA(30) as the SMA(50) closes in on the SMA(200) within the highlighted red box (or later, who really knows?).
On the daily chart, this will be seen as the SMA(50) rejecting a bearish golden cross.
Market Depth:
Appears bullish due to 1,962,873 Buying Volume to only 1,430,988 bearish volume.
BUT: note this is a highly illiquid low value stock, AND when we look at the bullish volume it is distorted by a buy order for 1,000,000 at 0.075, which would be a re-test of the late May low (but still a gain for the YTD).
What do you think?
Note
This would have been a risky trade, but a stop loss just a little below the most recent low could have resulted in up to a 20% gain here with careful watching of momentum. Holding out for a low would have significantly improved this
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