š $RAY Analysis ā Breakout Alert! š„
$RAY has successfully broken out of its consolidation zone, signaling bullish momentum on the 4H chart. The price has moved above the $4.80 resistance, with strong buying pressure pushing it towards the key psychological level of $5.00.
Key Levels to Watch:
Immediate Resistance: $5.00
Major Resistance: $5.20
Support Levels: $4.60 and $4.40
Next Target Levels:
Bullish Target: $5.20 and $5.50
Bearish Support: $4.40
Trading Strategy:
1ļøā£ Breakout Entry: Enter above $5.00, targeting $5.20-$5.50.
2ļøā£ Pullback Entry: Buy around $4.60 if the price retraces, with a target of $5.00 again.
Risk Management:
Stop-Loss: Below $4.60 for long positions.
With increasing volume and solid upward momentum, $RAY is poised for further gains if it stays above $5.00. Watch for breakout confirmation and trade carefully!