Worth a re-fresh of the setup at play with a good piece of the overhang being cleaned out today!
Once that line at 1.2c falls I expect to see price action really start to open up.
Fundamentally and technically I really like this company atm, here's my reason why based on the technical setup:
Short term - dailyPrice action had come under pressure with some movement on the register / legacy holders looking to exit.
Higher highs + higher lows is the theme here. Substantial volume print today seeing price action close back above the MA and at the 1.2c resistance mark. MACD positive cross being printed + a break out of the RSI all boding well. Know doubt when the line at 1.2c falls this will also see a decent volume print to validate the 1.2c resistance level being cleared.
View attachment 5487340Medium term - weeklyZooming out for some perspective, you can really start to see the bigger play / opportunity here. RSI coming from a sustained period in oversold territory continues to make higher highs + higher lows with plenty of room to run before over bought signals appear. MACD has made its way back to the important 0 control line and has the real potential to see the jaws widen once more and continue to trend positively in the green zone. Volume prints on the weekly supporting a longer term change of trend as legacy holders are flushed out at the bottom an new substantial interest is what will drive price action going forward.
View attachment 5487346Longer term - monthlyRSI finally starting to move out of a sustained period of oversold readings. Big volume prints driving the reversal. Plenty of room to move, especially once 3.5c is cleared where any potential trapped buyers may still exist, if they haven't already capitulated.
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