Alas, the charts still show to stay away for the moment, unless you are accumulating and want to bet that we won't hit the next fibb line down at $0.305. We saw a similar spell in May 2021, albeit not as big a correction, where the MACD stayed largely negative for 3 months. Point is, this is early days, we have seen a 2 month run (nearly) of decline, at a time where the larger market corrected at a macro level, specifically in certain sectors such as BioPharm and Tech.
2 year Daily Chart
Daily Chart: Big question will we test $0.305? Some indicators are showing signs of bottoming out, but I think patience is key at the moment.
My charts show that we have not seen the
RSI as low as this (27.56%), since September 2020, technically classed as oversold.
My Stochastic lines have crossed again in oversold territory, but still have not changed direction materially.
Super trend is still down. ADXR is showing a positive movement, but it does not mean much until MACD comes good.
(20min delay)