Nano is strong today. The price made two consecutive bullish candles, although with little volume. This put the price above the pennant-like price structure. The MACD is turning bullish also.
Nano has made a large spike with a strong volume on July 17 and now is moving in a bullish trend. MACD is making a transition to bullish and the CCI is already in positive territory, although it did not show the price too overextended. Stochastics are not overbought.
Hi folks -
Nano is currently resting on the 100 EMA, after trading in a range from about $1.38 to $2. A break below the 100 EMA could see Nano proceed to support at $1.38 and a very bearish move even lower.
However, a move upwards of $1.65 could see Nano escaping the triangle and moving to a new target above $2.
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Theres a lot going on in this chart but it all seems to hold some insight. The down trend seems to be slowing down. But I'd expect one more small dip to be made before it breaks the diagonal line. Once broken, it could still go down to $1.41 but it may also follow the dark fib resistance arc. Finally noticing NANO's association of Wednesdays over the past four...
Mid term, it looks like theres now some overhead resistance as seen from the black lines at $1.66. Due to this overhead resistance, a bear flag could form and could see $1.37 again. Mid term, I feel bearish to neutral due to this resistance. Breaking above the resistance, possibly see a double peak at $1.97.
This isn't advice, only a hypothesis. Lets see how it plays.
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