For every seller... there is a buyer who believes the price will go up!
Volume increasing so we are seeing accumulation ramping up.
Large players have been putting up resistance with those 1m sell walls - Traders/profit takers with fear and panic in their eyes being forced to sell fast below the 1m sell walls. Players loading up cheap.
We have seen on 2 occasions their sell wall appear as bait and bought up in 1 shot... too tempting for large investors.
Well played big players.
Back to some TA - On the 4 hour
- Dipped slightly below the 200 MA and the 78.6 fib retracement (both oversold indicators) - 76.8-88.6 being the hot zone for larger investors.
- RSI heavily oversold (stock undervalued)
- Found some support on a previous high.
Will be looking for trend change on the shorter time frame and still keeping an eye on increasing volume.
Target on break out
T1 0.46
T2 0.83
DYOR
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