So this is TIGR!
It is in a long downtrend and makes a lot of gaps down.
As you see on the chart, most gaps get filled within a few days, the last one took 9 days to fill the gap completely.
We are at day 7 now. Ideally we see a double bottom at 6.44 before going up to fill the gap. On earlier days (2019/2020 before the big run) 5.34 used to be a heavy resistance. From the beginning of September 2020 till half November it couldn't break that 5.34.
Once it broke it retested it once before starting the big run up end December 2020.
It reached the top of the run around half of Februari at 38. It then dropped to around 16, which was the most noticable resistance in the big run. It consolidated a while in a range between 12,80 to 24 before breaking out of that range once more to go and fill the down gap it created between 28 and 30 when it dropped after the big run up till februari. After filling the gap it dropped back to the 16 support and consolidate there for about a month, before losing the support and dropping more to the next valid support at around 7.31. While going down it made a lot of downgaps which most of got filled the next days.
I think it will test that 6.44 support again before closing the gap. Once closed, it will go down to the strongest support at 5.34 to consolidate there till the reversal can start if the outlook is positive enough. Otherwise it will just continue dropping.
Just an idea!
It is in a long downtrend and makes a lot of gaps down.
As you see on the chart, most gaps get filled within a few days, the last one took 9 days to fill the gap completely.
We are at day 7 now. Ideally we see a double bottom at 6.44 before going up to fill the gap. On earlier days (2019/2020 before the big run) 5.34 used to be a heavy resistance. From the beginning of September 2020 till half November it couldn't break that 5.34.
Once it broke it retested it once before starting the big run up end December 2020.
It reached the top of the run around half of Februari at 38. It then dropped to around 16, which was the most noticable resistance in the big run. It consolidated a while in a range between 12,80 to 24 before breaking out of that range once more to go and fill the down gap it created between 28 and 30 when it dropped after the big run up till februari. After filling the gap it dropped back to the 16 support and consolidate there for about a month, before losing the support and dropping more to the next valid support at around 7.31. While going down it made a lot of downgaps which most of got filled the next days.
I think it will test that 6.44 support again before closing the gap. Once closed, it will go down to the strongest support at 5.34 to consolidate there till the reversal can start if the outlook is positive enough. Otherwise it will just continue dropping.
Just an idea!