CSE:SPR Weekly equilibrium broke bull--Enormous follow through
Congrats to anyone who acted on my previous post on CSE:SPR !!!
The company has released a presser stating they are in talks with a beverage company and are optimistic about a deal being concluded within the month of April.
This is the highest closing price ever, on HUGE VOLUME, and the all time high is not far away. Can the run continue? Hard to say...
Above I am looking at the hourly candles. While it is an extreme run so far, over 100%, hourly support was established three times, most recently today. As long as the hourly higher low pattern continues then the run will go on.
When the hourly higher low pattern is lost then daily consolidation will begin and could be a good time for laggards to enter or to scale in to existing positions.
I will judge daily consolidation when it happens and asses the health of the pullback. Due to the size of the run, the pullback could be fairly large, but we wont know until it happens. It's hard to gauge what daily consolidation will look like until it happens, and it's possible the news of a probable deal will help keep things bullish without an overly large pullback. I am hoping for a bull flag on the daily, or weekly charts, but will update when things happen.
The company has released a presser stating they are in talks with a beverage company and are optimistic about a deal being concluded within the month of April.
This is the highest closing price ever, on HUGE VOLUME, and the all time high is not far away. Can the run continue? Hard to say...
Above I am looking at the hourly candles. While it is an extreme run so far, over 100%, hourly support was established three times, most recently today. As long as the hourly higher low pattern continues then the run will go on.
When the hourly higher low pattern is lost then daily consolidation will begin and could be a good time for laggards to enter or to scale in to existing positions.
I will judge daily consolidation when it happens and asses the health of the pullback. Due to the size of the run, the pullback could be fairly large, but we wont know until it happens. It's hard to gauge what daily consolidation will look like until it happens, and it's possible the news of a probable deal will help keep things bullish without an overly large pullback. I am hoping for a bull flag on the daily, or weekly charts, but will update when things happen.
➡️ View trading as a numbers game
➡️ Take on the business model of a casino
➡️ Find an edge that puts odds in your favor over a set of trades
➡️ Take on the business model of a casino
➡️ Find an edge that puts odds in your favor over a set of trades
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.