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Exela is breaking out but has some resistance
Hello Friends!
IMO Exela's chart and the volume looks promising coming out of the falling wedge. Here's what I'm looking for Exela next....
- Exela needs to hold $.85 this week.
-The next major resistance that can be a major issue is $1.04
-There's a lot of traders in this that might take profits from yesterday's move.
A move to $1.04 might tire out (overbought territory on the daily) the Bulls and they might have to take a break. They should take some time to regroup in the $.90 - $1.04 zone.
Solid consolidation in that zone should fuel the next move to $1.34, $1.97, and so on. Keep those stops tight and watch those fib levels.
As always thanks for your follows, likes, and comments. Let’s learn and grow together. Cheers!
IMO Exela's chart and the volume looks promising coming out of the falling wedge. Here's what I'm looking for Exela next....
- Exela needs to hold $.85 this week.
-The next major resistance that can be a major issue is $1.04
-There's a lot of traders in this that might take profits from yesterday's move.
A move to $1.04 might tire out (overbought territory on the daily) the Bulls and they might have to take a break. They should take some time to regroup in the $.90 - $1.04 zone.
Solid consolidation in that zone should fuel the next move to $1.34, $1.97, and so on. Keep those stops tight and watch those fib levels.
As always thanks for your follows, likes, and comments. Let’s learn and grow together. Cheers!
Ghi chú
Watching to see if it can bounce at $.55-$.60 (purple line). Then it needs to go back up to $.85 - $1.04 zone.Ghi chú
Looks lie it's holding above the top of the falling wedge and consolidating. Will keep my eye on this.
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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.