Looking like a bullish setup with a symmetrical triangle. Impulse move up with high volume, now retracing with lower volumes and volatility (ATR) as it forms a symmetrical triangle. Also getting close to middle of BB and 50 EMA. Wait a day or two for it to rest a bit longer. Buying at 2.45 would be an aggressive move if you are feeling FOMO.
Company has had good results lately as revenue starts to gain momentum.
Company has had good results lately as revenue starts to gain momentum.
Comment:
Massive bearish candles the last 3 days took out most of the gains since the start of the year. Looking at entry between $1.90 - $2 where the volume profile peak occurs. Looking as a medium to long term investment, still like the direction and growth of the company into positive cashflow.
Any further drop below 2.35 and it could fall quickly to around 2.15, near the next vol profile peak. It did touch the middle BB today. If you're looking for a long term hold, definitely see how the next 2 sessions' price action go, whether it will drop further or supported.