Today’s analysis- AKROBTC- trading above a key local S/R with a ribbon bull cross, further upside probable
Points to consider, - Price Action Impulsive - Local S/R Support (.382 Fibonacci Confluence) - Weekly S/R objective - Oscillators extended
AKROBTC’s immediate price action is trading at the Weekly S/R where a rejection to the Local S/R that is in confluence with the .382 Fibonacci is probable, allowing for long entries.
Both oscillators are currently trading at extended regions, a reversion to the mid-points will be reflected in price action.
The immediate objective is the Weekly S/R, breaching this level is key for a continued bullish bias.
Overall, in my opinion, AKROBTC is a valid long with defined risk, price action is to be used upon discretion/ management,
Hope this analysis helps Thank you for following my work And remember, “There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.” ― Yvan Byeajee,