Analysis and Recommendation for Trading $S 📊
The currency $S (Sonic) is experiencing a decline of 6.80% with a high trading volume (85.94M), indicating strong selling pressure. Technical indicators show a negative crossover of the moving averages with a gap between EMA7 (0.4988) and EMA25 (0.5094).
Entry Points:
Buy at 0.4935-0.4950 (strong support)
Stop Loss below 0.4900
Exit Points:
Partial Sell at 0.5094 (EMA25)
First Target: 0.5175 (EMA99)
Second Target: 0.5338
Wait for confirmation of the bounce from the current support level with increased trading volume as a positive signal to enter. The potential W-bottom pattern may indicate an upcoming bullish reversal.
