Looks like the purple line is pounding down on the stock, squeezing it down. I am anticipating either
1: Price will break the purple squeeze this week and form a strong floor.
2: Purple line is going to reject and price will drop to the $4 range to re-test purple line in a couple weeks.
1: Price will break the purple squeeze this week and form a strong floor.
2: Purple line is going to reject and price will drop to the $4 range to re-test purple line in a couple weeks.
Comment:
If the price is rejected again by the purple line I personally believe this will represent the end of the bear market cycle and a bull market can begin.