LUNA 2 USD : HEAD AND SOULDERS POSSIBLE BREAK TO $.90 CENTS!
Updated
Since my last update LUNA2 is not looking very good. I expected a solid bounce and then a continuation up but we've been hanging out around this major support which is beginning to get weaker by the hour. There is a major head and shoulders patter that has formed on the hourly time frame and if this plays out the measured move from the head to the neckline is a drop to about $.90 ninety cents (head and shoulders patterns are the most accurate in price action patterns at 85%-90% of the time). At this point nothing would surprise me with this project. Many people are saying that this was created just to give the initial investors some of their money back, AKA pump and dump! This head and shoulders pattern however doesn't have to play out and can reverse course and we start another run up. For this to happen we need to close at least an hourly above $7.75 for me to believe that the head and shoulders is invalidated! The blue lines are all support lines and breaks and closures below any of those lines will initiate a move down to the next line and the next line and so on. Once we break below the last support line at around $4 LUNA will free fall into the depths of hell. I will buy around $.85 cents and $.90 cents for a nice bounce possibly but I cross that bridge when we get there. Another thing that could be more towards the bullish side is the STOCH RSI has crossed to the upside and the MACD is starting to curl up on the hourly and on the 30 minute has a more defined curl. Volatility is also expanding so there is a big move imminent and soon. I believe this move will happen today! If not then we will probably see sideways action till Monday. If you appreciate my work then please give me a like and follow me for more updates and analysis. This is not financial or trading advice, its just my opinion, so please do your own research first. Thank you and good luck!
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