$XEMBTC: Remains on Watchlist; Could be getting interesting here
Some has asked my thoughts on $XEMBTC.
Chart remains in correction territory as it continues consolidation.
Interestingly enough, it's back at the support levels from December 2017,
so there could be some potential for history to repeat itself with a bounce.
Again, right now it's trending sideways...
Last week it appeared things were going to turn around for the stock;
however, yesterday turned that thinking back around.
At the moment, I'd like to see that chart turn 0.0....1560 into support and be
able to hold that level for a retracement back towards the 0.0....1777 area.
I do anticipate a squeeze on this stock to move abruptly in either direction;
however, once again, if history repeats itself - you can see how the stock reacted
back in December around this same territory :-8
Chart remains in correction territory as it continues consolidation.
Interestingly enough, it's back at the support levels from December 2017,
so there could be some potential for history to repeat itself with a bounce.
Again, right now it's trending sideways...
Last week it appeared things were going to turn around for the stock;
however, yesterday turned that thinking back around.
At the moment, I'd like to see that chart turn 0.0....1560 into support and be
able to hold that level for a retracement back towards the 0.0....1777 area.
I do anticipate a squeeze on this stock to move abruptly in either direction;
however, once again, if history repeats itself - you can see how the stock reacted
back in December around this same territory :-8
Comment:
0.0...1567 trying to turn into support, so we can make a run into the 0.01774 resistance.
Comment:
Resistance continues to dominate the price.