On the above 12 day chart price action has corrected over 90% (when accounting for the share split in July 2022). A number of reasons now exist to be bullish, however sellers are not interested in such things. Buy high sell low, that’s how they like to roll.
Why bullish?
1) Price action and RSI resistance breakouts.
2) Trend reversal, the first higher high in over 3 years.
3) Past resistance confirms support. Excellent. This is further supported with the large 12 day bullish engulfing candle that printed in March.
4) The target area is the 2nd impulsive wave as measured from the 1st impulsive wave that printed in 2020.
Is it possible price action continues to correct further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: you decide, small cap. Manage risk.
Timeframe for long: This month.
Stop loss: Will say elsewhere
Return: 800%
Why bullish?
1) Price action and RSI resistance breakouts.
2) Trend reversal, the first higher high in over 3 years.
3) Past resistance confirms support. Excellent. This is further supported with the large 12 day bullish engulfing candle that printed in March.
4) The target area is the 2nd impulsive wave as measured from the 1st impulsive wave that printed in 2020.
Is it possible price action continues to correct further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: you decide, small cap. Manage risk.
Timeframe for long: This month.
Stop loss: Will say elsewhere
Return: 800%
Trade active
Past resistance confirms support.Note
GRM support confirmed. Don't miss out!Note
Past resistance confirms support (again).
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.