Are we at the bottom or is there more downside to come ?
Possible outcomes:
A: Ready for Lauch we see some positive news come out that shows a clear(er) path to profit and we have a new impulse taking us up to $11 over the space of a year
B: Landing Gear Out The downward pressure and burn rate is still too much for people to stand and the price continues to decline and ranges between $2-3 for a while.
Personally keen for a swing trade on this.
- currently sitting at $3.24 which is very near the all-time low of $3
- This level has acted as a horizontaol support several times
- a decending curved support line appears to be levelling out.
- The daily RSI is in the oversold mark which has historically acted as a catalyst for an uptick
- For the past year the price has dropped in waves by around 25% then gone up - could that repeat
Possible outcomes:
A: Ready for Lauch we see some positive news come out that shows a clear(er) path to profit and we have a new impulse taking us up to $11 over the space of a year
B: Landing Gear Out The downward pressure and burn rate is still too much for people to stand and the price continues to decline and ranges between $2-3 for a while.
Personally keen for a swing trade on this.
Comment:
$2.5 reached very quickly. Let's see if it holds.