** risky investment opportunity - 26M market capital **
Happy with the risk? Then read on... This idea is the result of hours of study over numerous weeks.
On the above 10-day chart price action has corrected an astonishing 99% over the last 6 years. Since early 2015 price action has printed lower highs and lower lows. Now is the time to be bullish. Why?
1) Trend reversal. Look closely, the bearish market structure was broken when a higher high printed in February. Since then price action has corrected to past resistance to confirm support - excellent. This support level is defined by the bottoming monthly candle. See monthly chart below.
2) The yearly EMA (green line). Price action has recently made an impulsive move to the upper side of the EMA while closing several candle bodies above - fantastic.
3) Hidden bullish divergence. Unlike regular bullish divergence, hidden bullish divergence is defined when an oscillator such as Stochastic RSI (diagonal pink lines) prints lower lows as price action prints higher lows. This is very bullish. Currently the Stochastic RSI is crossing up 20 (purple circle). This is very bullish on a 10-day chart.
4) Volume. I don’t know for what reasons money is pouring in, someone knows something I don’t - follow the money.
Is it possible price action falls? For sure.
Is it probable? Unlikely.
A buy from 1.50 is amazing.
Good luck!
WW
Monthly chart:
Trade active
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Comment
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Price action breaks out of resistance on the 10-day chart. Projected near term target $3.
Trade active
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Price action now finding support on past resistance.
Great Analysis ! What's your price target if I may ask ?
without_worries
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@omercibeaucoup, I don't have one actually. I look for ideas that are considerably oversold and take profits when overbought. Saying that, the fist significant resistance here is at $34.
omercibeaucoup
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@without_worries, Hello mate any new thoughts on DARE ? Best Regards
without_worries
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@omercibeaucoup, Noting new, price action structure looks fantastic. Happy to stay long on this one.
Still long on this one?
Best regards