I know, dead project. However this is a great example why Technical Analysis trumps fundamentals.
On the above 3-day chart price action has corrected 98%. A number of reasons now exist to have a long position. They include:
1) Price action and RSI resistance breakouts.
2) Price action and RSI confirms support on past resistance.
3) The bull flag breakout measures a near 300% target.
4) Does anyone know why I’ve written the numbers on the RSI resistance? Answers below!
Is it possible price action falls further? Sure.
Is it probable? no
Ww
Type: trade
Risk: 1-2%
Timeframe: Long this month
Return: 2-3x