NKN Rectangle, accumulation, bullish scenario
Updated
NKN is traded in a huge rectangle since May 2021.
Price respected the ST bullish trendline one more time, while at the same time is remaining above the 20MA for 10 days.
A break through the MT bearish trendline is a matter of time. After that, the next resistance is near the LT bearish trendline. If accumulation is completed, SZ breakout will be no
If you’re looking for a confirmation to go long wait for: 1) MT bearish TL breakout
2) 50MA breakout
3) MAs crossover
Place a take profit order in the supply zone and a stop loss or alert below the 20MA.
If price surpass the SZ, (the most probable scenario) next crucial resistances is $1.50 and $2.32.
Price respected the ST bullish trendline one more time, while at the same time is remaining above the 20MA for 10 days.
A break through the MT bearish trendline is a matter of time. After that, the next resistance is near the LT bearish trendline. If accumulation is completed, SZ breakout will be no
If you’re looking for a confirmation to go long wait for: 1) MT bearish TL breakout
2) 50MA breakout
3) MAs crossover
Place a take profit order in the supply zone and a stop loss or alert below the 20MA.
If price surpass the SZ, (the most probable scenario) next crucial resistances is $1.50 and $2.32.
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Markets are falling due to Russia - Ukraine tensions. That can not affect the market in the long run. Stay to your plan. Do not panic sell!
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