Swing-Trade analysis (1d chart)
SMMA-Analysis & Support and Resistance:
- The 100er SMMA (yellow) seems to be used as a major support line since the middle of August 2021.
- Golden Cross (bullish breakout pattern): We can see how the 50 SMMA (white) cut the 200 SMMA (red) in the end of October 2021. If the 100er SMMA cuts the 200er before the 8th of February (Earnings & Revenue Disclosure), we have another strong buy signal.
- The green line shows a mid-term resistance at 3,95 USD
Chart-Pattern:
- We see a bullish channel (thin yellow lines) - if you extend the lines to the left, you can clearly see that the channel started in November 2020.
- We also see a symmetrical triangle (thin white lines) which might indicate a bullish continuation if the upper line is going to be cut; or reversal if the lower line is going to be cut. However, it seems that investors are waiting for the 8th of February, because the triangle closes in that area.
Momemtum Indicators:
RSI: No divergence detected. RSI moves around 50 for a while which means that the stock is neither overbought nor oversold.
MACD: The histogram turns to the green zone which indicates the market is increasing in buying momentum. MACD line rises above the signal line, the indicator gives a bullish signal, which suggests that the price of the asset is likely to experience upward momentum.
CVO OBV: No divergence detected. However, the histogram is above zero since the beginning of December which confirms an upward momentum.
Conclusion:
Based on the findings we see an upward continuation. I would place a long position before the earnings report at around 4 USD. Possible Sell-order might be at around 4,3 USD (below the annual high of 2021) or even higher.
Stop-loss should be placed on the 100er SMMA. A more conservative stop-loss might be the 0.236er FIB at 3,834 USD.
Last but not least, It seems that investors are waiting for February earning results, and for this reason my analysis should be taken with a grain of salt.
SMMA-Analysis & Support and Resistance:
- The 100er SMMA (yellow) seems to be used as a major support line since the middle of August 2021.
- Golden Cross (bullish breakout pattern): We can see how the 50 SMMA (white) cut the 200 SMMA (red) in the end of October 2021. If the 100er SMMA cuts the 200er before the 8th of February (Earnings & Revenue Disclosure), we have another strong buy signal.
- The green line shows a mid-term resistance at 3,95 USD
Chart-Pattern:
- We see a bullish channel (thin yellow lines) - if you extend the lines to the left, you can clearly see that the channel started in November 2020.
- We also see a symmetrical triangle (thin white lines) which might indicate a bullish continuation if the upper line is going to be cut; or reversal if the lower line is going to be cut. However, it seems that investors are waiting for the 8th of February, because the triangle closes in that area.
Momemtum Indicators:
RSI: No divergence detected. RSI moves around 50 for a while which means that the stock is neither overbought nor oversold.
MACD: The histogram turns to the green zone which indicates the market is increasing in buying momentum. MACD line rises above the signal line, the indicator gives a bullish signal, which suggests that the price of the asset is likely to experience upward momentum.
CVO OBV: No divergence detected. However, the histogram is above zero since the beginning of December which confirms an upward momentum.
Conclusion:
Based on the findings we see an upward continuation. I would place a long position before the earnings report at around 4 USD. Possible Sell-order might be at around 4,3 USD (below the annual high of 2021) or even higher.
Stop-loss should be placed on the 100er SMMA. A more conservative stop-loss might be the 0.236er FIB at 3,834 USD.
Last but not least, It seems that investors are waiting for February earning results, and for this reason my analysis should be taken with a grain of salt.