$JTO — BULLISH STRUCTURE BUT BREAKOUT UNCONFIRMED!
$JTO
Class, open your charts and look at JTO. Price is in an uptrend with higher highs and higher lows. Structure is bullish, phase is accumulation. Momentum is at 66/100, moderate. Support sits at $0.5438, resistance at $0.5986. Volume is weak, and breakout is unconfirmed. This tells me the move lacks conviction.
What I'm watching: If price breaks above $0.5986 with volume, the next target is $0.630, then $0.660. If it rejects, a drop to $0.560 is likely. The RSI is likely neutral given the momentum reading. I'd wait for a clear breakout or breakdown before committing. The setup is not confirmed yet.
$JTO
Class, open your charts and look at JTO. Price is in an uptrend with higher highs and higher lows. Structure is bullish, phase is accumulation. Momentum is at 66/100, moderate. Support sits at $0.5438, resistance at $0.5986. Volume is weak, and breakout is unconfirmed. This tells me the move lacks conviction.
What I'm watching: If price breaks above $0.5986 with volume, the next target is $0.630, then $0.660. If it rejects, a drop to $0.560 is likely. The RSI is likely neutral given the momentum reading. I'd wait for a clear breakout or breakdown before committing. The setup is not confirmed yet.