ASX SSM breaking out of a long term resistance. Had to comedown to monthly to capture the trend line. Breakout bar is significant, but the volume is not significant.
SSM broke out of the downtrend line in late June 2021, and rallied and formed a high of $1.030. This indicates its end of the downtrend. The current pull back has retested support and bounced off as of lately and forming a triple bottom pattern which looks quite bullish. I would be targeting the previous high of $1.030 (potential 16% gain) with a hard stop below...
ENTRY: 2.27 TP1: 2.45 TP2: 2.6 SL: 2.15 - ADX>25 - RSI>65 - MAs are aligned - Break up with decent volume on 19 Nov 2020 - Low volume retracement today