SRIDGE was enormously dipped to support level at 0.32, coincides with 200w SMA, after failed to break Fibonacci resistance at 1.05. HH and HL structure indicates that prevailing uptrend is still intact. Hence, support level at 0.32 could be a turning point for further movement to the upside. On daily view, formation of Marubozu candlestick with strong buying volume today strengthen our bullish view. Nearest resistance is seen at 0.49.
Meanwhile, if the share breaches below support level at 0.30, the share may lay down the foundation for a new downtrend and this will cap off the potential further bullish movement.
Disclaimer: No trading strategy provided here. Our content is intended to be used and must be used for technical analysis education purposes only
Meanwhile, if the share breaches below support level at 0.30, the share may lay down the foundation for a new downtrend and this will cap off the potential further bullish movement.
Disclaimer: No trading strategy provided here. Our content is intended to be used and must be used for technical analysis education purposes only
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Support breached