$PORTO has been quietly building momentum and today it exploded higher, reaching $1.42 before retracing back to $1.20, still up nearly 17% on the day.
What’s notable is the strong bounce from $0.83 earlier this month, that level has proven to be a solid base for buyers.
Short-term resistance now stands at $1.32, and if bulls can reclaim and close above that, the next logical target sits around $1.50. On the downside, I’ll be watching $1.06 – $1.08 to hold as support.
As long as that level stays intact, dips are likely to be absorbed.