Made a call last Friday morning on a potential move above 0.600 when it was at 0.585…. today we saw a firm rally past this 0.600 resistance level….
High at 0.65 seen today before some profit taking which is normal.
More than 9% again in just a day, well above my expectations definitely.
Can there be more upside above 0.65 now….. ?
Wow…. Watching closely…… But in any case, raise stop loss….. we make money no matter what happens from now ….
From previous call, we have indeed seen Cityneon touched a high of 0.66 before some profit taking amidst a weaker market over the past 1 weeks. It has managed to find some support at the 0.55 level for now which is critical for the uptrend to continue. Any breakdown below the 0.55 can see a reversal back down but as long as it maintains above, we are still good to go. For those who have ride the uptrend previously, hope you have raised your stop loss and exit on the retracement last week. Resistance at 0.600 for now and a move above can see it trade back to 0.65 – 0.66 which was the previous high to attempt a breakout again. Any long positions above 0.55 should have a stop loss at 0.535. J