Trade Analysis #30: $NOT
NOT has declined below its previous support levels of $0.0145 and $0.0137, currently consolidating within a range of $0.0147 to $0.0128.
Maintaining a bullish outlook for NOT, I'm considering two potential entry points for a purchase:
1. Retracement and Reversal: A drop to the $0.01 support level followed by a higher low above $0.09, accompanied by increasing Relative Strength Index (RSI) readings, could signal a bullish reversal.
2. Breakout: If the consolidation phase extends, I'll monitor for a decisive breakout above the $0.018 resistance level with substantial trading volume. This could indicate a strong upward trend.
I'm interested in hearing other perspectives on $NOT . Are you also considering a buy-low approach? If so, please share your specific entry points and rationale in the comments below.
Trade Smarter! Peace Out ;)
