$BNX Technical analysis :
Technical Indicators:
• MA(7) (Yellow): 1.1774
• MA(25) (Pink): 1.1830
• MA(99) (Purple): 1.1233
Price Levels:
• Current Price: 1.1686
• Price Change: +0.1458 (+14.25%)
Support and Resistance Levels:
• Support Levels:
- Immediate Support: 1.1410
- Previous Support: 1.0624
• Resistance Levels:
- Immediate Resistance: 1.1774 (MA(7))
- Key Resistance: 1.2089 (Recent High)
Trend Analysis:
The price has been in an uptrend, crossing above the MA(7), MA(25), and MA(99). There was a peak at 1.2089, followed by a consolidation phase, with the price slightly declining. The price is currently hovering around the support level of 1.1691.
Entry Points:
• Long Entry: A good entry point for a long position would be near the current price level of 1.1686, provided the price shows signs of reversing and the uptrend continues. Place a stop-loss just below the immediate support level, around 1.1410, to manage risk. Initial target can be set at the recent high of 1.2089.
• Short Entry: If the price fails to hold the support level of 1.1691 and breaks below it, place a stop-loss above the immediate resistance level, around 1.1774. Aim for the next support level at 1.1410, and further down to 1.0624 if the downtrend continues.
Summary:
The chart indicates a recent uptrend with a potential for further gains if the support level holds. Traders should watch for price action around the current level to decide entry points, setting stop-losses to manage risk effectively.
