Currently price already hit the support level at fibo level -0.20 and building up momentum to reach higher price.
Price need to break 2 resistance to achieve the mentioned take profit.
Take profit is at fibo level 3.618.
Please compare with your analysis before trade this stock counter.
XOX - no sign of bullishness the the moment as the price still moving below resistance. Next support level is at 0.05.
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Price currently in channel movement completing Wave 4 EW. My expectation to see price break above the channel and pullback as another confirmation to catch long entry. Or else, aggressive trader can consider to chip in buy now.
I'm guessing that XOX is making a spring yesterday and will try to test next HL according to Wyckoff. Anyways, I'm not an expert in Wyckoff (don't be nasty if I wrongly interpret it). But nevertheless, I will track this stock to see if it moves accordingly like in the chart.
Let's see how.
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The last chance for XOX to rebound is to test the 135 psychological resistance level. We see there is no potential for it to break 135. We have projected this since November. Then it will move downward gradually to 0.02
XOX currently in major downtrend based on parallel channel and its riding Correction Wave B to find a new Lower High.
There are potential limited upside to meet resistance @ 0.170 with Support @ 0.09 (RRR 1:2.2).
Breaking the downtrend channel could bring XOX to a new uptrend Impulse Wave 1 with Resistance area around 0.245
However, if 0.09 support is broken,...
Prediction: Bottom Fish (Rally when it breaks 0.14 )
Target Price: R1=0.15-18, R2=0.22-25, R3=0.28-33
Support/Cut Loss: S1=0.10
*Trend direction: Bottom Rebound - Bottom Divergence
*Price moves strongly supported at 0.10 with Yellow-diamond observed on 30-Oct, an indication of the bottom signal.
*White-diamond has appeared on 19-Oct, an indication of the strong...