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Philbert

624 Posts.

19

26/03/21

14:16

Post #: 52067307
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Originally posted by matt503: ↑

Solid current support around the 2.8 - 2.9 cents. If this breaks the next support seems to be around 2.4 cents (MACD continuing to drop so this may be the case).

However, the RSI indicates the stock is almost in the oversold region on the daily chart which may indicate the sell-offs could be coming to an end soon.

Consecutive green days on increasing volume is what I am looking for to reverse the current downtrend (ideally backed up with several strong pattern indicators ie Bullish Engulfing candlestick).

A surge past the current downtrend line and/or next resistance level at 3.5cents on relatively high volume followed by a consolidation on relatively low volume is something I am looking for.

Depending on the details of the next announcements I think will determine whether the change in current sentiment will come sooner rather than later.

P.S This is not financial advice. Please DYOR & GLTAH.

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lets see how this plays out next week - the first part of your theory is correct

CI1 Price at posting: 3.2¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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