It fell out of the demand zone this morning. All those sell orders beflow 0.036 were swept up and that gave buyers enough momentum to rise back into the Demand Zone.
Volume was heavy on Friday - which indicated that buyers were already sweeping up some sell orders.
Volume was even higher today than on Friday. Further upside seems likely.
I've put a target at 0.04 which would be a nice result if it comes off.
In between the close today of 0.037 and that target of 0.04 is the Point of Control from the Volume Profile.Point of Control is between 0.038 and 0.039. That could cause resistance to upward movement. (Point of Control is the level at which most volume has ben traded in the past 25 Days.)
Take care. RB
IMU Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
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