Price has broken above the Ichimoku cloud which hasn't happened in a long time. RSI bullish. First target around 1 USD pschological level. Long term target 3 USD.
Hi folks, Yurii Domaranskyi here. Let's take a look at the chart. We have a local low, sharp approach to the level on daily and 5 minutes timeframes, once the level was broken down, the price tested it once, when it tested it for the second time and a 5m bar closed above the level 5.70$ I got a position at 5.73 average Potential risk/reward ratio = 1 to 5.1...
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It can go up because: 1. The stock is in the channel. The support is around 6.95 2. Ehlers Smoothed Adaptive Momentum is in the green zone. That's mean that we have bullish momentum 3. MACD is bullish Buy: 8.07 Stop Loss: 6.95 Target:10.31 (2R) if you have any questions, let me know Thank You