Recent Price Action:
- Launch price: $1 (support level)
- Current price: $1.10 (trading around support)
- Yesterday's high: $1.35 (brief spike)
- Actual high: $1.94 (pre-market peak)
Observations:
1. Strong initial support at $1, indicating a robust demand floor.
2. Brief price surge to $1.35, suggesting market enthusiasm.
3. Retraction to $1.10, indicating profit-taking and consolidation.
4. Maintaining support above $1, indicating bullish sentiment.
Technical Indicators:
1. RSI (14): 55 (neutral)
2. MACD (12, 26): Converging (potential bullish crossover)
3. Bollinger Bands: Narrowing (consolidation)
Market Sentiment:
1. Bullish bias due to strong support and brief price surge.
2. Caution advised due to retraction and consolidation.
Trading Strategy:
1. Long-term holders: Maintain positions, expecting further growth.
2. Short-term traders: Consider buying on dips to $1.00-$1.05.
3. Stop-loss: Set around $0.90.
Risk Management:
1. Volatility expected due to pre-market trading.
2. Monitor volume and order flow for signs of weakness.
Outlook:
SCR's price action suggests a bullish bias, with strong support and brief surges. However, consolidation and profit-taking are natural.
