First chart, not financial advice (Fixed formatting issue on previous post)
Price moving above the 12-period EMA on daily chart , looking to go long on a close above the wedge and possibly take profits at fibonacci resistance levels.
I added the previous rally's retracement levels to show where extra resistance lies.
Thoughts? Criticism?
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Completed bounce from top of wedge. bearish mariposa candle suggest sideway movement through wedge and hopefully a double bottom and break towards $6 fib level
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Still contained within a version of the original falling wedge, now added ichimoku cloud for additional indicators.
In May the top of the cloud was almost broken, we are also looking for the green momentum line to cross over price.
Finally, the RSI sees a bullish hidden divergence indicating a possible reversal.
First profit target lies between 38.2% uptrend and 23.6% decline @ $8.70-$8.85. If you're being safe, you could also trim position at previous peak of $8.15