$SLF Is it a trend reversal or just a trap?
SLF stock has seen a strong rise, but it is now testing a key resistance level with increasing selling pressure. Is this the beginning of a larger breakout, or a bullish trap?
Key price levels:
• Resistance area: $0.0900 - If bulls break above this, we may see a continuation of the rise.
• Support area: $0.0860 - Breaking below this level will invalidate the short-term bullish momentum.
Trade setup
Bullish scenario:
• Entry point: Break above $0.0900 with strong trading volume
• First profit target: $0.0940
• Second profit target: $0.0960
• Stop loss: Below $0.0870
------------------------
Bearish scenario:
• Entry point: Break below $0.0860
• First profit target: $0.0840
• Second profit target: $0.0820
• Stop loss: Above $0.0888
----------
Trading volume is experiencing a sharp increase, indicating a potential rise in volatility in the future.
The ideal scenario for speculative traders and those relying on price breakouts - but don’t forget the stop loss!