Hi friends hope you are well and welcome to the new update on Orchid ( OXT ).
Broke out channel:
On a daily time frame, since 10th Nov 2021, the priceline of OXT was moving in a down channel. Finally on 16th Dec it has broken out the channel. Now there are two major resistance levels, 1st is at $0.5750 and the second is at $0.7260. We can also set these levels as our sell targets as well. There is also very strong support at $0.3650, which can be used as a stop loss.
Broadening wedge and weekly oscilltor:
On weekly chart, OXT has formed a broadening wedge formation and now getting bounced by the support. The stochastic oscillator is also getting out from the oversold zone. This time there is a high probability that the OXT we again set another higher high.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Broke out channel:
On a daily time frame, since 10th Nov 2021, the priceline of OXT was moving in a down channel. Finally on 16th Dec it has broken out the channel. Now there are two major resistance levels, 1st is at $0.5750 and the second is at $0.7260. We can also set these levels as our sell targets as well. There is also very strong support at $0.3650, which can be used as a stop loss.
Broadening wedge and weekly oscilltor:
On weekly chart, OXT has formed a broadening wedge formation and now getting bounced by the support. The stochastic oscillator is also getting out from the oversold zone. This time there is a high probability that the OXT we again set another higher high.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade