SAMCHEM, Could a Long Term Reversal Be in the Cards?

Bias: Bullish. When SAMCHEM broke the blue long period MA line resistance, it rallied strongly. In the correction that followed, priced dropped up to 15% between highest point and lowest point in 5 trading days. As price appoached the same blue MA, it could be a buy-in oppurtunity if the breakout/reversal is to be true.

Stop-loss: 0.635
// The recent low point 0.640.

1st target: 0.755
// Previous high as minor resistance.

2nd target: 0.885
// Fibonacci extension & previous trading zone.

Gentle reminder: Plan the trade and trade the plan. Trade at your own risk. Stay tune!

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