$INJ is trading at $21.38, showing a strong recovery and testing its intraday resistance at $21.76. A breakout above this resistance could indicate continued bullish momentum, while a rejection may lead to consolidation or a pullback.
Trade Setup:
Long Setup:
Entry: Above $21.80 (Breakout confirmation)
Stop Loss (SL): $21.00
Take Profit 1 (TP1): $22.50
Take Profit 2 (TP2): $23.20
Short Setup:
Entry: Below $20.80 (Breakdown confirmation)
Stop Loss (SL): $21.30
Take Profit 1 (TP1): $20.00
Take Profit 2 (TP2): $19.50
Technical Outlook:
The current price movement indicates increased buying pressure, pushing INJ towards the upper end of its range. A clear breakout above $21.80 could signal bullish continuation, targeting $22.50 and $23.20. Alternatively, a failure to sustain above $20.80 might signal a bearish reversal, targeting support levels at $20.00 and $19.50.
Traders should confirm the move with volume and use strict stop-loss levels to manage risk effectively.
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