Analysis:
Daily Chart- After long downtrend, price went on a sideways market between 2.67-4.77 lasting 771 days. On 1/28/21, price made a strong move north breaking past Resistance Area of 4.77. There is currently a Golden Cross further exhibiting the buyer strength. Price has remained above resistance and has formed a Bullish Pennant pattern with higher lows into small resistance area of 5.96. The price also has the support of the 10ma signaling a very strong strength of the current move.
Entry: 6.12
Stop Loss: 5.11(-14%)
Initial Target: 14. Will trail with 10ma on daily
Daily Chart- After long downtrend, price went on a sideways market between 2.67-4.77 lasting 771 days. On 1/28/21, price made a strong move north breaking past Resistance Area of 4.77. There is currently a Golden Cross further exhibiting the buyer strength. Price has remained above resistance and has formed a Bullish Pennant pattern with higher lows into small resistance area of 5.96. The price also has the support of the 10ma signaling a very strong strength of the current move.
Entry: 6.12
Stop Loss: 5.11(-14%)
Initial Target: 14. Will trail with 10ma on daily
Trade closed: stop reached:
Stopped on 3.3.21 at 5.11(-14%)
Entry: 4.80
Stoploss: 4.35(-9.39)