Trade setup: Bullish breakout from a Channel Down pattern was confirmed by a break above $0.17 key level. Price could swing up +20% to $0.20 near term. Stop Loss at $0.15 (just below the next support).
Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Most traders should wait for a completed pattern with a breakout and then place a BUY order.
Trend: Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.17 (previous resistance), then $0.15. The nearest Resistance Zone is $0.20, then $0.24.
Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Most traders should wait for a completed pattern with a breakout and then place a BUY order.
Trend: Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.17 (previous resistance), then $0.15. The nearest Resistance Zone is $0.20, then $0.24.