Forming a typical falling wave pattern, and breaking supports. Could rise up to the $5.0, but all rise must be sold. Very likely to go below $1.15
Trade closed: target reached
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Sona touched $0.2 today. Reached the support band that had propelled it to highs in 2020. It is bounced after touching lows, a typical covering after a selloff. It may likely correct further and settle around $0.2, but there is not enough meat left in this anymore. It had its run but now rest in the abyss.
Now with the CE approval do you suspect the price action to increase and correlate with the sona stock price increase?
Xtanly
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@MikeJakuszewski, Price could correlate with the news and move higher. $5 could be the target, which may act as the first resistance.
However, the bottoming out is not seen on the chart. When it comes down next, it may breach the ~$0.8 level from where it bounced.
Xtanly
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SONA has not yet bottomed out. May fall again before stabilizing. Target: $0.6 - $0.35 range.
saucyjolz
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Got to be honest when ive see your post on Nov.21. I was skeptical about this. But you got it right ! good job !
Xtanly
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@saucyjolz Thanks
I looked at the wave pattern, divergence, gap, resistance/support to propose the target.