$NXPC
Technical Overview:
1. Price Action:
The chart shows a massive bullish spike followed by steady downward movement.
The price is now consolidating in a tight range, suggesting indecision or accumulation.
2. Trend:
Short-term trend: Bearish.
Medium-term: Sideways consolidation.
Volume has decreased compared to the spike, indicating weakening momentum.
3. Support & Resistance:
Support Zone: Around $1.77 – $1.80 (24h low area).
Resistance Zone: Near $1.98 (24h high and previous breakdown area).
4. Candlestick Pattern:
Small-bodied candles and wicks on both ends indicate market indecision.
Potential for a breakout or breakdown depending on volume and sentiment.
---
Intraday Trading Signal:
1. Entry Point ($):
$1.88 – $1.89 (current market price zone).
Only enter after a confirmation candle with strong bullish momentum (e.g., green candle closing above $1.90 on the 4H or 1H chart).
2. Stop Loss ($):
Below the key support: $1.76.
This accounts for false breakouts but keeps risk manageable.
3. Take Profit Targets ($):
Target 1: $1.95 (previous mini-high).
Target 2: $1.98 (resistance zone / 24h high).
Target 3 (optional): $2.05 (if bullish momentum continues past resistance).
---
Risk/Reward (R:R) Consideration:
Entry: $1.89
Stop Loss: $1.76 (Risk = $0.13)
Target 1: $1.95 (Reward = $0.06)
Target 2: $1.98 (Reward = $0.09)
Target 3: $2.05 (Reward = $0.16)
Ideal R:R if aiming for T2 or T3.
---
Recommendation:
This trade setup is suitable for scalp to short swing trading within a day.
Use tight risk control, especially in low-volume environments.
Monitor volume increase and breakout confirmation on lower timeframes (15m–1h) before entering.
