🔭 EGLD SIGNAL 📈
In this summary, I will provide you with an investment strategy, including entry and exit points, as well as stop-loss levels.
▫️Basic Data:
• Current Price: Approximately $28.834.
• General Trend: The overall trend is bearish with some minor rebounds.
▫️Support and Resistance Levels:
1. Strong Support: Around $22.205.
2. First Resistance: Around $40.168 (40% potential profit).
3. Second Resistance: Around $58.086 (100% potential profit).
4. Third Resistance: Around $78.110 (160% potential profit).
▫️Technical Indicators:
1. Synetti Indicator:
• Buy Signals: Several previous buy signals and new ones appearing on the indicator, suggesting a potential price rebound from current levels.
2. Stochastic RSI Indicator:
• Current Status: The indicator is in the oversold region, which may indicate a potential price rebound soon.
▫️Investment Strategy:
1. Entry Point:
• Buy: At current support levels (around $28).
• Stop-Loss Orders: Set a stop-loss order at the $22 level to protect capital.
2. Exit Point:
• First Target: Set an initial target at the first resistance level (around $40) to achieve a 40% profit.
• Second Target: If the price surpasses $40, set a secondary target at the second resistance level (around $58) to achieve a 100% profit.
Third Target: If the upward trend continues, set a final target at the third resistance level (around $78) to achieve a 160% profit.
3. Risk Management:
• Position Size: Allocate a small portion of capital (e.g., 2-5%) per trade to minimize risks.
• Adjust Stop-Loss Orders: Gradually move stop-loss orders higher as the price moves in your favor.
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