Flat | 09 May 2018

Technical Observation

Earlier today, my stop was taken out when the price went below $0.7554. First, the recent break below the daily support line $0.8095 was a significant move, and while the price is rallying below this line, I expect further momentum to the lower side. As it is on the daily chart, the price is still above the 152 Simple Moving Average, and unless this SMA is not clearly broken, a bounce from it will be an ideal buy for long term buyers. Alternatively, you wait for a break above $0.8532 to confirm a possible rally towards $1.1568 towards $1.5603.

Trade Signal.

Flat

The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.