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Thanks Patterns for the charts and everything.

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ann888

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09/05/21

22:47

Post #: 53050750
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Originally posted by Patterns: ↑

@ann888 SYA 3.7 daily chart has pulled back to test the demand level and the 50sma for support. The glaring weakness with both the weekly and the daily chart is the very poor risk reward being offered at present. The price target is 5 cents and the there is overhead resistance I do not like the look of so I would say look for something with a better risk reward as the distance between demand level and the supply level is your profit margin and this distance is just too small here to bother with when planning good trades in my view. The trade would probably work but you need to give yourself a good chance to be well rewarded.
ATC 5.7 weekly is a rounded bottom breakout in progress above the 50sma and with a price target at the 200sma of around 10 cents It has just tested the 34ema and the lower trendline for support.

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Thanks Patterns for the charts and everything.
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