1 Day Sprinting BullOverall monthly there is a downwards wedge, signifying breakout. Weekly trend has a strong upwards trough from 13-14th. At the daily level, 3 Green Soldiers Candlesticks can be displayed at the 5 minute ticks, showing strong buying pressure from bulls prior to close on the 14th. Looking at the S/RSI indicators below, displays low 30.00s, prior to yesterday's close, signalling oversold conditions; my expectation is that execution will be easy to come through. However, if there is high supply volume of sells, we can expect the price to crash; though not-likely.
I am feeling with 75% confidence that this is bearish outlook for tomorrow. All may change with the 08:00 AM news.
Strategy: Enter @ $3.49-3.50 depending on pre-market trading activity. Set stop loss limit at $3.41, since it would have to tank and fall through the $3.45 support. If it breaks the $3.52-3.53 resistances, with strong lengthy candles, we can expect a target exit price of $3.57/8 and/or above. The risk reward ratio is 1.33 conservative to 2.33 aggressive.
