Long
BRQS
Borqs Technologies Inc (NASDAQ:BRQS) dipped by 5.31% on Friday as the stock pulled back after Wednesday's spike. The stock closed at $1.07 a share and looks poised to rebound. Looking at this technical hourly chart above, what makes me think we are very close to a bottom is the last five candles have seen lower volume and a price stabilization exactly abv support. Additionally, it has back tested successfully the broken yellow horizontal trend line resistance. I think this bodes well for a bounce from current levels. Long setup on watch.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.