REVO - possible W formation after double bottomREVO was trying to breakout in Feb 2021 but due to overall red tech markets and an excessive sellout it dropped under 0.30 CAD $.
The chart looks strong and healthy at the moment. Currently REVO is highly oversold.
MACD lines might be crossing soon which could generate a bullish signal.
One possible scenario:
After two subsequent successful tests of support levels around 25-26 cents earlier this year, a reversal and upcoming W chart formation is realistic to me.
REVO trade ideas
REVO ramping up for reboundFrom a technical point of view as well as with a look to the latest news and market potential, REVO is a candidate for a significant trend reversal to me.
Indicators MACD as well as Stoch RSI are relevant to me. In case REVO will be able to break the resistance (flag) of the downward trend, the indicators will give confirmation for the rebound.
