Possible sideways channel

The 50 MA has been tested twice during this consolidation phase which is in the $3.15 area. The $3.70 area has acted as a resistance twice. I am looking into entering around the $3.20
support area with a bullish candle confirmation, bullish MACD, and near oversold RSI.

تعليق:

It looks like it went above the resistant line. Awaiting for a bullish candle that is above the resistant line to help identify if this resistant line will act as a new support line. MACD shows bullish. Force index is bullish.

However, I would not enter right now because the stock looks like it's going to be over bought because the incline of price is more than 45 degrees.

تعليق:

I will buy on the next retraction to the support level which I strongly believe it's the 50 MA. MACD bullish momentum. Force index appears to be bearish.. not enough data to make a conclusion about it.