Good momentum found on JFTech, which has been in successful rally after the price plummeted on March. The share found resistance at Fibonacci 2.618 coincides Negative divergence found on MACD histogram on July and later successfully breached both flag and Symmetrical Triangle, hit Fibonacci level at 3.618. Our view is still bullish with both EMA10 and EMA50 still intact, however we found a negative divergence in MACD histogram on weekly timeframe. Hence, we put resistance 5.075 (Fibonacci 3.618) in focus. Significant close above this level signify continuation of the rally, however breaking the first uptrend fan line could be the a sign of Bearish move
Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Trade closed: target reached:
The share plummeted after found targeted resistance