Although Polight has gone on a massive bull run lately, it broke above the ascending channel, and we can expect continued increase with new support found on the upper previous resistance level.
Notice the relationship between price increase and RSI breakout above the 50 mark approximately multiple times since the fall.
As far as I understand the dip down to 150 is stil within the ascending channel, making it good for a long position?
electricalTuna1995
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@superiorLeader59420, Yes. As we see it broke down from the upper trendline and seems to be moving back into the ascending, less agressive, channel. It bounced almost perfectly on the 0.382 fib retracement level. I view this as a good buy opportunity in the next coming days/weeks, but will be waiting to see if it stays above the 140/150 NOK level for a potential entry.