Possible descending channel forming. Declining support is strong. Macd bearish but above 0, no sign of reversal just yet. If price breaks and closes above declining resistance we could see price touch 20.60.
The 10.33-11.47 range looks to be strong support however with the 200 EMA rising above the range, if we continue to have bearish action, it may bounce off the 200 EMA as it has multiple times in the last 2 1/2 months. Breaking below the 200 EMA is possible and if so, we may end up dipping into the mentioned range which would be a good opportunity to accumulate more BAND
If we continue to respect the range, I think a $25 BAND is possible.
Support levels:
10.33-11.47 range
200 EMA
Resistance levels:
20.60
1.618 fib or $25 area
(this is just me logging my TA to see how often I am right vs wrong, do not take this seriously)
The 10.33-11.47 range looks to be strong support however with the 200 EMA rising above the range, if we continue to have bearish action, it may bounce off the 200 EMA as it has multiple times in the last 2 1/2 months. Breaking below the 200 EMA is possible and if so, we may end up dipping into the mentioned range which would be a good opportunity to accumulate more BAND
If we continue to respect the range, I think a $25 BAND is possible.
Support levels:
10.33-11.47 range
200 EMA
Resistance levels:
20.60
1.618 fib or $25 area
(this is just me logging my TA to see how often I am right vs wrong, do not take this seriously)