Bullish Confirmation Indications
Recent price action has confirmed a reversal by pumping upwards and forming a higher high.
1. Price has formed a higher high
2. It has formed a Golden Cross
3. Recent consolidation at Resistance indicates that the stock price is facing a hard time continuing up
4. The price is at 78.6% Fib Retracement level of $2.45 and @2.60...
2.10 - 2.11 is key area of support.
Already been retested.
Confirmed at the .382 Fibbonaci retracement level
Over the hourly and 4 hourly time frames the 20, 50, 100, 200 ma level acting as a support.
On the daily looks as tho the 20 MA might retest the 200 level.
These are very strong indicators of a strong upward trend occuring.
I believe the price will test...
Looking at a long if we break above Fridays close.
We have seen a large amount of volume at this area which has 2 major confluence areas. The first being the support level, the second being the 200ma. Price opened below but failed to stay below and completely engulfed Thursdays candle.
The first TP will be 180 the second will be 200. Looking to run a tight stop...