Price broke above $8.00 resistance, but it got overbought (RSI ~ 80) and was rejected. Hence, near-term, we’re likely to see it pause here on some profit taking. We would be buyers on pullbacks to $6.00 support. Stop Loss (SL) at $5.10, just below prior swing low. (set a price alert).
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance: Nearest Support Zone is $6.00 (previous resistance), then $4.60. The nearest Resistance Zone is $8.00, then $10.00. For short term and $17.00 for long Term