HEXO - Reversal Coming ?
Cập nhật
Dear Traders,
As we've seen HEXO didn't manage to break out and create a run, which isn't a big deal because I only would have entered a trade if I had more confirmation such as Volume and Momentum. Instead, we got a retracement, which is about to reverse in my opinion.
Have a look at the chart, as we can see we have a lower low price wise (RED ARROW) but in the RSI we are looking at a higher low (GREEN ARROW). This is a Bullish Divergence and this could give us an indication that this downtrend is about to reverse to an uptrend. HEXO is a well established company and they're future is bright.
The Bullish Divergence isn't the only thing I see on the chart, I also see that we have some support trace by a horizontal red line. This might just be a perfect entry to enjoy a reversal run.
This run will encounter Resistance points at: 6.83$ / 7.00$ / 7.37$
Keep an eye on the charts on monday, this could be a nice little rid if the bulls are pushing enough.
Any Thoughts?
As we've seen HEXO didn't manage to break out and create a run, which isn't a big deal because I only would have entered a trade if I had more confirmation such as Volume and Momentum. Instead, we got a retracement, which is about to reverse in my opinion.
Have a look at the chart, as we can see we have a lower low price wise (RED ARROW) but in the RSI we are looking at a higher low (GREEN ARROW). This is a Bullish Divergence and this could give us an indication that this downtrend is about to reverse to an uptrend. HEXO is a well established company and they're future is bright.
The Bullish Divergence isn't the only thing I see on the chart, I also see that we have some support trace by a horizontal red line. This might just be a perfect entry to enjoy a reversal run.
This run will encounter Resistance points at: 6.83$ / 7.00$ / 7.37$
Keep an eye on the charts on monday, this could be a nice little rid if the bulls are pushing enough.
Any Thoughts?
Ghi chú
The hole market is going down. I did anticipate to put an buy order lower at 5.95 and HEXO's prices bounced off once it reached that area. Holding strong above 6.05
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.