$HUMA - New Swing Long Trade Opportunity?
Updated
HUMA Hello everyone! I'm sharing both the weekly and daily charts with you. On the weekly chart (you can see below), the price tested the 100 EMA and rebounded. On the daily chart, after reaching the 30 RSI level, the price bounced back, stayed above the 100 EMA, and the UT Bot Indicator signalled a Buy. It appears the asset price has completed its correction.
I’m considering a swing-long trade with a Stop Loss set at $4.60. This could be a promising swing opportunity. A new higher high from this point indicates a potential return of nearly 90%, while reaching $8 would offer a return of about 50% profit. If the price hits my stop loss, it would result in a 13% loss. With risk-to-reward ratios of 7 and 4, this represents an excellent trading opportunity.
Additionally, the current market sentiment and volume trends support a bullish outlook. The asset has shown strong support at the 100 EMA, reinforcing the potential for upward movement. It's important to keep an eye on upcoming economic data releases and market events, as they could influence price action. This setup aligns well with my trading strategy, focusing on high-probability trades with favourable risk-to-reward ratios. Let's watch for a sustained breakout to maximize gains.
Weekly Chart:
Trade closed: target reached
Hello everyone! My first target price at $8 was reached today as predicted. To be honest, I didn't expect that to happen so quickly. 🤑 Next target is $10.
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