SOS is sending out distress signal (S.O.S). The stock looks to be in bottoming process but still too early to tell.
You would want to see stabilization between $1.62 and $3. $1.62 is a strong support area. Breaking below $1.62 would be bearish.
If you zoom out the chart you can take Jan, Feb 2021 price action as dead cat bounce. Which looks quite bearish.
I would not touch the stock until sentiment changes as there are way better plays elsewhere.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
You would want to see stabilization between $1.62 and $3. $1.62 is a strong support area. Breaking below $1.62 would be bearish.
If you zoom out the chart you can take Jan, Feb 2021 price action as dead cat bounce. Which looks quite bearish.
I would not touch the stock until sentiment changes as there are way better plays elsewhere.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.