All technical indicators are oversold with signs of reversal on Daily and Weekly time frames. Additionally, we touched th 200d MA and bounced off of it.
Be careful though, this might be a short lived bull run as we might fail to break 3.1 and thus create opportunity for a leg down.
Thus I will set my first target at 3.1 and wait to see if there are signs of weakness.
Be careful though, this might be a short lived bull run as we might fail to break 3.1 and thus create opportunity for a leg down.
Thus I will set my first target at 3.1 and wait to see if there are signs of weakness.
Comment:
Volume on the daily is dying. I think if you have enough money, averaging down would be great.
Comment:
I will only consider exiting below 2.519
Comment:
At this point I stopped averagin. I got myself a position of an average $2.710. RSI still has space to run. Still sticking with initial target.
Comment:
Very crucial point here. We need to break the descending wedge.
Trade closed manually:
Forgot to update you guys yesterday. Sorry. Exited at 3.032
