Fresh idea for a newly introduced market... New to our eyes anyways... Take a look at the waves. Oh, should we also mention, a new record volume day here for this one...
A few things we like here... all key moving averages, on the hourly, have been hit except the 200. The red line. The lower bollinger band indicates the price is low, and the RSI indicates oversold, once again. Anticipation of a bounce and move up to the red line to close our trade as long as the volume persists.
Take a look on the daily and notice the 30 day SMA (white line) is around the same price range as our 200 day SMA is on the hourly view... The 10 and 20 days have been hit, will the price go up and test the 30 day as well?
Also anticipation of a form to come from the company... We'll see, but the chart triggers a buy for us...
Buy low and sell high... simple right?
Allow us to address that this is not financial advice... It is recommended that you do your own due diligence, fundamental and technical analysis before purchasing any asset...
Have another perspective? Leave it in the comment section... The more perspectives we can see the market from the better off we are as traders...
Thanks for looking, good luck and happy trading!
