Price has broken through the 4.3c resistance which has been capping the price since mid November 2024. It has also broken through the daily 55ema (Dark Blue) which has been acting as resistance since mid July 2024 apart from the spike in September (which eventually got sold back down below it).
Daily 8ema (Orange) has crossed the daily 21ema (Yellow) with a nice steep gradient while volume has ramped up significantly. The daily 21ema (yellow) has also turned upwards steeply to follow. The 55ema (blue) has turned up positive for the first time since the spike to 8c.
SP has found resistance at the weekly 21ema (Teal) and come back down to test the 4.3c support. It looks to have found some buyers but the volume needs to increase if we are to continue the run. A break of and bounce off the weekly 21ema (Teal) will be significant if we get it and I'd say mid to high 5s could follow. From there the next big steps we will be to break the daily 200ema (red - currently at 5.7) and then the weekly 55ema (currently at 6.4c).
IMU Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
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