TWT: Resistance Breakout
Trade setup: After getting rejected 3x (bearish Head and Shoulders pattern) near $1.00 resistance, price pulled back as low as $0.70 support. Now it’s broken back above $0.82 resistance, with huge volumes. However, it needs to break above 200-day moving average and $1.00 resistance area to resume an Uptrend.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.70. The nearest Resistance Zone is $0.82, which it broke, then $1.00.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.70. The nearest Resistance Zone is $0.82, which it broke, then $1.00.
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