#TrumptMarketInsights
Here's an analysis of the chart
Observations:
Price Trend: The price has shown a significant decline, with a current price of $34.17, down -29.00% over the last 24 hours. The recent trend is bearish.
Moving Averages (MA):
MA(7): $35.91
MA(25): $46.66
The shorter-term MA(7) is below the longer-term MA(25), indicating a bearish trend.
Support and Resistance:
Recent High: $77.24 (resistance level).
Recent Low: $27.25 (support level).
Volume: Declining volume suggests weakening momentum.
Suggested Strategy:
Entry Point:
Buy Zone: Wait for the price to approach the previous support around $30 - $31. Monitor for a reversal pattern (e.g., a bullish candlestick like a hammer or engulfing candle).
Confirmation: Look for the MA(7) starting to curve upwards, crossing above the MA(25), signaling a potential trend reversal.
Exit Point:
Sell Zone:
Conservative Approach: Around $45-$47, near the MA(25), as it may act as resistance.
Aggressive Approach: If the price breaks above $47, aim for $60, where the next resistance might be.
Risk Management:
Set a stop-loss slightly below $30 to limit losses in case of further downward movement.
Adjust the stop-loss as the price moves up to secure profits.
