Chart Technicals
Last updated
Last updated
Take a look at the 5Y, 1D, and 4H charts overlay below. 👇
5 YEAR technical analysis - Up until the start of 2021, this chart saw essentially no volume. Due to this, we will be looking primarily at the past 2 years of trading. The current channel is wide open, allowing for a possible multi-cent move granted the developments continue to roll as expected. Some fundamentals to take note of: Trading far below 200 MA. Trading below middle trend line. RSI sitting under 40.
1 DAY technical analysis - On the daily chart, this one could not look more primed for a long overdue bounce. Look for further compression within the Bollinger channel. It's worth noting the constant breakdown rejection. It is in our opinion that a move to .12+ is to expected in the short term outlook.
4 HOUR technical analysis - Seeing similar compression within the Bollinger channel as compared to the 1D chart. Per the L2, and what the chart is displaying, this one is thinning out. We believe enough shares have been absorbed at this level to form an extremely solid base. Watch the ASK side of depth for additional thinning out. This will be a tell tail sign to watch for a channel breakout.
