DANGSUGAR LONG IDEARecently, the price of DANGSUGAR stock has broken out of a bearish trendline with a strong bullish weekly candle. This shows a strong intention to continue the buying momentum. To take advantage of the long opportunity, you can buy at the current market price while you can also wait for price to drop to N42.95. The stop can be at N37.70 while the target are N47.85 and N63.50 (final target). If this zone should fail, then the next long opportunity will be at N33.50 with a stop at N30.35 based on market structure.
Confluences for the long idea:
1. Trendline and resistance breakout with a strong bullish weekly candle.
2. Strong volume momentum on the volume indicator.
3. Market structure is bullish.
Disclaimer: This is not a financial advice. The outcome maybe different from the projection. Don't take the signal if you're not willing to accept the risk.
