$ACT is trading at $0.3207, showing a pullback from its recent highs of $0.3479. The price is currently consolidating with potential to either test the lower support zone or reclaim upward momentum if it breaks resistance levels.
Trade Setup:
Long Setup:
Entry: Above $0.3300 (Confirmation of recovery)
Stop Loss (SL): $0.3100
Take Profit 1 (TP1): $0.3400
Take Profit 2 (TP2): $0.3500
Short Setup:
Entry: Below $0.3100 (Breakdown confirmation)
Stop Loss (SL): $0.3250
Take Profit 1 (TP1): $0.3000
Take Profit 2 (TP2): $0.2900
Technical Outlook:
The 1H chart shows ACT facing pressure near the $0.3200 range. A breakout above $0.3300 could signal bullish momentum, targeting $0.3500. Conversely, a breakdown below $0.3100 might accelerate selling pressure, with potential downside towards $0.2900.
Maintain disciplined risk management and monitor volume for confirmation of breakout or breakdown. Adjust positions accordingly to secure profits.