We've been on a downward channel since March 2018. Yesterday, we probed through the top into the previous gap and we also took out the monthly R3 price.
We have had higher lows (HL) and higher highs (HH) since beginning of 2019 on the Daily. Yesterday gave us another HH. THis important HH on May 30 also confirmed the trend change from the last low price in December 2018. We have an official trend change now with 2 HH's.
Risk reward is definitely in the Bullish favor with lots of upside and little downside potential.
From here:
1) we continue higher on news momentum
2) we consolidate for a while before pushing higher
3) we sell off after the pump
Possible future targets and places of interest:
Downside:
1) 2019 S1 price of $0.38- This would be a worse case scenario if the new board didn't happen and bad news comes out to tank it. Not likely.
Upside:
1) Continue filling in Gap to $6.12
2) $6.50 to $7 - this is the 2018 S2 and 2019 Pivot levels
3) $8.80 - this is the 2018 S1 level
4) $10.43 to $13.88 - This is a wide range that includes a large gap in price and also includes 2018 Pivot level at $12.50 and 2019 R1 level at $13.60
We have had higher lows (HL) and higher highs (HH) since beginning of 2019 on the Daily. Yesterday gave us another HH. THis important HH on May 30 also confirmed the trend change from the last low price in December 2018. We have an official trend change now with 2 HH's.
Risk reward is definitely in the Bullish favor with lots of upside and little downside potential.
From here:
1) we continue higher on news momentum
2) we consolidate for a while before pushing higher
3) we sell off after the pump
Possible future targets and places of interest:
Downside:
1) 2019 S1 price of $0.38- This would be a worse case scenario if the new board didn't happen and bad news comes out to tank it. Not likely.
Upside:
1) Continue filling in Gap to $6.12
2) $6.50 to $7 - this is the 2018 S2 and 2019 Pivot levels
3) $8.80 - this is the 2018 S1 level
4) $10.43 to $13.88 - This is a wide range that includes a large gap in price and also includes 2018 Pivot level at $12.50 and 2019 R1 level at $13.60