AI
Sunday, June 27, 2021 1:50:31 PM
Can it bust through $3? It seems you have a time horizon of July 25th. Answer, it all depends on news and the strength of anticipation prior to that date as well. Short answer is yes it could, but there are obstacles. Looking at the chart I am concluding you chose $3 because of the Feb 2021 high at 2.99.
Green Trades to you.
This chart gives you what long term resistance must be broken to test/break the $3 level.
1. Long term down trend line.
2. 2.50 is the top of strongest VbP resistance bar/zone.
3. 2.32 is the down trending 100ma.
Looking at the volume there is 10months of accumulation. IMO a very positive sign.
The green triangle shows good promise.
PS: I am not disagreeing with Tom's technical assessment. Just pointing out some inflection points.
Green Trades to you.
This chart gives you what long term resistance must be broken to test/break the $3 level.
1. Long term down trend line.
2. 2.50 is the top of strongest VbP resistance bar/zone.
3. 2.32 is the down trending 100ma.
Looking at the volume there is 10months of accumulation. IMO a very positive sign.
The green triangle shows good promise.
PS: I am not disagreeing with Tom's technical assessment. Just pointing out some inflection points.
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