TOMO - Swing Options

20 thg 10, 2020

TOMO has now approached the support zone at 0.66 USD. If it consolidates in this area, we could see a potential move towards the 0.236 fib at 0.8 USD which was the previous support. Breaking this support could pull back the price of TOMO back towards 0.55 USD.
Two possible swings would be : Long from the 0.66 USD area towards 0.8 USD with a stop loss below this support and if the stop loss gets hit and we start seeing the support getting broken, we can short TOMO on the retest of this 0.66 after breaking support with a stop loss above this support turned into resistance and a target of 0.55 USD. Breaking this lower support of 0.55 may lead the price down towards the 0.4 USD which would be an excellent area to long TOMO.