The price of this stock is inside a descending channel. The lower black line is the support while the 50 MA is the acting resistance level.
I think the price would hit around $2.83 being its support level. I will buy with 2 confirming candles and sell once it hits the resistance level which is the 50 MA.
This is another stock that has 50c profit/share. Risk is moderate. I would enter with only a few hundred dollars.
I think the price would hit around $2.83 being its support level. I will buy with 2 confirming candles and sell once it hits the resistance level which is the 50 MA.
This is another stock that has 50c profit/share. Risk is moderate. I would enter with only a few hundred dollars.
Comment:
Looks like it is going to hit the support level soon, counter trend trading is imminent for this trader.