$SCR
Taking profits at $1.35 during pre-market proved to be a crucial decision. With SCR now trading at $0.775, securing gains early saved a significant 43% drawdown
Taking profits when uncomfortable, even if modest, beats watching half your capital evaporate. This doesn't mean SCR won't rise again - it simply emphasizes smart risk management.
Having dry powder now means being able to re-enter at better prices if compelling setups emerge.
After the recent steep decline, SCR is showing early consolidation signs. Price currently hovering near the critical $0.75 support level, where we're seeing some buyer interest emerge. The bounce from this zone suggests possible short-term stabilization
Key Levels to Watch:
Support: $0.75, $0.65, $0.50
Resistance: $0.85, $1.00, $1.20
Volume profile shows significant reduction post-decline, typical of consolidation phases. The current price action needs to clear $0.85 with conviction to suggest a potential trend reversal. RSI showing oversold conditions on lower timeframes, but still needs time to reset on daily.
Immediate challenge lies at the $0.85 resistance - a level that previously acted as support. Breaking and holding above this could open path to psychological $1.00 level. However, failure to hold $0.75 support might trigger further downside to $0.65.
Watching for increased volume and clean breakout above $0.85 for potential reversal signals. Until then, choppy price action between $0.75-$0.85 likely.
