If the market goes down to the area coloured in red , there is a higher probability that price will bounce back up from there ,especially from the two horizontal red lines and the area between them .
That's why I think the area coloured in Red respresents the optimal area to buy at for people interested in buying TSE:9437 .I think the two thick horizontal red lines and the area between them represent a strong level which represents an interesting buy area , but even there , it would be better not to enter the market with the full investment in case price drops even lower in the red area , offering a more interesting price to buy at .
The buy target would be , untill further notice ,around the green rectangle after buying from the red area .
If the price doesn't reach the red area , it would be better to just watch if this stock is strong enough to close significantly, in an upcoming day, above the green rectangle and the black line and then it would be likely to continue up to around the first blue rectangle , with a potential to reach the second , higher, blue rectangle .
That's why I think the area coloured in Red respresents the optimal area to buy at for people interested in buying TSE:9437 .I think the two thick horizontal red lines and the area between them represent a strong level which represents an interesting buy area , but even there , it would be better not to enter the market with the full investment in case price drops even lower in the red area , offering a more interesting price to buy at .
The buy target would be , untill further notice ,around the green rectangle after buying from the red area .
If the price doesn't reach the red area , it would be better to just watch if this stock is strong enough to close significantly, in an upcoming day, above the green rectangle and the black line and then it would be likely to continue up to around the first blue rectangle , with a potential to reach the second , higher, blue rectangle .