TNXP update after triangle break down.
Disclaimer
Please don't take this as a financial advice, remember I'm not a professional analytic, this whole idea is based on my knowledge, interpretation and opinion. This is only my Idea, don't buy or sell because of my idea. Do your own research in the company before deciding either buy or sell. Remember there is always a risk of losing money when you trade or invest in any stock, you must decide at your own risk.
Obviously, the chart pattern broke down that Triangle and the Stock price Fell to almost previous Sock Price at $1.11. Candles are trading below the EMA 15 and below of the two MA (50 and 200) which means a down trend for the moment. In this 30 min chart we can see the last 2 candles are green and the last one is kissing the EMA 15. It’s still no confirmation of reversal yet but as soon the candles start trading above that EMA 15 with at least 2% of space between the EMA and candles we can confirm an uptrend. In the Fibonacci we can see that $1.11 worked as a support and next resistance could be $1.21, $ 1.27, $1.32 in a short term. I will consider that $1.04 a strong support in case that $1.11 fails. Parabolic Sar still above of the candles what means, as soon a candle touch the last ball in the top it will start moving up.
Please don't take this as a financial advice, remember I'm not a professional analytic, this whole idea is based on my knowledge, interpretation and opinion. This is only my Idea, don't buy or sell because of my idea. Do your own research in the company before deciding either buy or sell. Remember there is always a risk of losing money when you trade or invest in any stock, you must decide at your own risk.
Obviously, the chart pattern broke down that Triangle and the Stock price Fell to almost previous Sock Price at $1.11. Candles are trading below the EMA 15 and below of the two MA (50 and 200) which means a down trend for the moment. In this 30 min chart we can see the last 2 candles are green and the last one is kissing the EMA 15. It’s still no confirmation of reversal yet but as soon the candles start trading above that EMA 15 with at least 2% of space between the EMA and candles we can confirm an uptrend. In the Fibonacci we can see that $1.11 worked as a support and next resistance could be $1.21, $ 1.27, $1.32 in a short term. I will consider that $1.04 a strong support in case that $1.11 fails. Parabolic Sar still above of the candles what means, as soon a candle touch the last ball in the top it will start moving up.
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