MA is showing weakness on 1W chart.
There is a big sell zone near 382$ where buyers have tried to win sellers, but all 6 attempts (mentioned on chart) were losing.
I expect two signals of weakness that will give confirmation of closing long position/ opening short position.
First signal is closing 1W candle under ema50 (about 357$ at mom). (This signal will be very strong, because it will be multiplied it strength with closing 1D candle under ema200, that is a confirmation for closing long position).
Second signal is closing 1W under critical level 347$ - that will be confirmation of opening short position.
Main targets are shown on chart and now are
320$, 250$, 215$.
You need to be very patient and wait until confirmation of next bullish market on this stock, big bounce (about +20%) I expect on 215$ (-45% from high 2023). Big bullish trend will be later, when chart will build again a structure: Price>ema30>ema50>ema200.
There is a big sell zone near 382$ where buyers have tried to win sellers, but all 6 attempts (mentioned on chart) were losing.
I expect two signals of weakness that will give confirmation of closing long position/ opening short position.
First signal is closing 1W candle under ema50 (about 357$ at mom). (This signal will be very strong, because it will be multiplied it strength with closing 1D candle under ema200, that is a confirmation for closing long position).
Second signal is closing 1W under critical level 347$ - that will be confirmation of opening short position.
Main targets are shown on chart and now are
320$, 250$, 215$.
You need to be very patient and wait until confirmation of next bullish market on this stock, big bounce (about +20%) I expect on 215$ (-45% from high 2023). Big bullish trend will be later, when chart will build again a structure: Price>ema30>ema50>ema200.