Based on the daily chart I see a lot of weakness.
EMA fibs shows a time of uncertantiy it can turn either way, however, it is facing resistance (mind you that the trend line may not be super clear, but you get the picture).
I am placing a PUT that expires 6/15.
Stochastic RSI market strucutre shows a "M" formation which is bearish imo
Volume is weak
I will flip position around support area $3.30
Let see how this goes.
EMA fibs shows a time of uncertantiy it can turn either way, however, it is facing resistance (mind you that the trend line may not be super clear, but you get the picture).
I am placing a PUT that expires 6/15.
Stochastic RSI market strucutre shows a "M" formation which is bearish imo
Volume is weak
I will flip position around support area $3.30
Let see how this goes.
Comment:
I do believe I was wrong...recently you can see the lowes getting higher should have indicated an upward impulse. I am looking at the Ichimoku cloud and it can face some resistance around $7.00. We all make mistakes. But one must learn and not repeat it.