Based on the daily chart I see a lot of weakness.
EMA fibs shows a time of uncertantiy it can turn either way, however, it is facing resistance (mind you that the trend line may not be super clear, but you get the picture).
I am placing a PUT that expires 6/15.
Stochastic RSI market strucutre shows a "M" formation which is bearish imo
Volume is weak
I will flip position around support area $3.30
Let see how this goes.
EMA fibs shows a time of uncertantiy it can turn either way, however, it is facing resistance (mind you that the trend line may not be super clear, but you get the picture).
I am placing a PUT that expires 6/15.
Stochastic RSI market strucutre shows a "M" formation which is bearish imo
Volume is weak
I will flip position around support area $3.30
Let see how this goes.
Note
I do believe I was wrong...recently you can see the lowes getting higher should have indicated an upward impulse. I am looking at the Ichimoku cloud and it can face some resistance around $7.00. We all make mistakes. But one must learn and not repeat it.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.