As we can see on daily chart, bullish outlook, but we are reaching a resistance level and that huge volume bars concerns me.
I expect some drop on the next days and a good place to buy is at 7~7.50 zone (demand zone) IF price action shows rejection on it like a low test candle.
The suplly waves are weak so far (just check the volume on the down waves) so i believe this stock will touch 10.0 again soon and maybe a new ATH at 14.0 level.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
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Price bounced from demand zone, good signal!
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Price facing resistance now, a break above can start a good rally upside.
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Enjoyed tha rally? =p
now facing resistance ;)
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Price did a good rally from our demand zone and now we have a pullback in action, as written before the 10.0 usd level were a target and therefore was a good price to reduce position there.
Now trailing stop must be active =)
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Price is showing strenght, good signal, i expect a new ath soon =)