$STO Sharp Downtrend - Seeking Bottom or Further Decline?
STO is currently trading at $0.0922, having experienced a significant decline and now resting at a critical low. Its immediate movement will determine if it can find a floor and attempt a rebound or if the bearish momentum will push it to lower levels.
Key Levels to Watch:
Resistance: $0.0945 - A confirmed move above this immediate resistance could target $0.0955.
Support: $0.0922 - Losing this critical level (current price) could send STO to new lows.
Trade Setup - High Alert for Breakdown!
Bullish Entry: A confirmed move above $0.0945 could target:
Target 1: $0.0950 (approx.)
Target 2: $0.0955
Bearish Entry: A break below $0.0922 could target:
Target 1: $0.0915 (approx.)
Target 2: $0.0910 (approx.)
Stop-Loss: Implement strict stops to manage risk, especially given the strong downtrend and current support test.
STO is in a sharp downtrend, testing a critical low. A bounce requires overcoming strong overhead resistance, while a breakdown below $0.0922 would likely accelerate losses.