$UAI
UAI is handing out money again.
Around 0.33–0.36, it was grinding, then a long wick suddenly smashed down to 0.3237, volume exploded, a classic liquidation wick. After that, it V-reversed and pushed all the way to the intraday high of 0.5145. The 24h low was 0.3326, basically completing the whole range in one day. That upper wick at 0.5145 is the most critical level in the whole move; it went up there but failed to hold, then successive lower highs and lower lows followed, with another sharp dump-and-pump in between, showing distribution at high levels.
Now around 0.456, which is right at the midpoint of the pullback from the rally, and also the level it just lost and is now retesting.
Structurally, it is: liquidation wick → short squeeze rally → distribution at 0.51 → pullback to the midpoint.
0.48–0.50 has already flipped from support to resistance. 0.44–0.45 is the short-term bull-bear line. Only below that are 0.41 and the 0.32 long wick.
My personal trade: short
Entry: wait for a retest to 0.482–0.492 (to reclaim the 0.48 resistance zone)
Stop loss: 0.522
Take profit: first target 0.412, second target 0.328–0.323
If it reclaims 0.500 and holds above it, close the trade; don’t fight it.
UAI is handing out money again.
Around 0.33–0.36, it was grinding, then a long wick suddenly smashed down to 0.3237, volume exploded, a classic liquidation wick. After that, it V-reversed and pushed all the way to the intraday high of 0.5145. The 24h low was 0.3326, basically completing the whole range in one day. That upper wick at 0.5145 is the most critical level in the whole move; it went up there but failed to hold, then successive lower highs and lower lows followed, with another sharp dump-and-pump in between, showing distribution at high levels.
Now around 0.456, which is right at the midpoint of the pullback from the rally, and also the level it just lost and is now retesting.
Structurally, it is: liquidation wick → short squeeze rally → distribution at 0.51 → pullback to the midpoint.
0.48–0.50 has already flipped from support to resistance. 0.44–0.45 is the short-term bull-bear line. Only below that are 0.41 and the 0.32 long wick.
My personal trade: short
Entry: wait for a retest to 0.482–0.492 (to reclaim the 0.48 resistance zone)
Stop loss: 0.522
Take profit: first target 0.412, second target 0.328–0.323
If it reclaims 0.500 and holds above it, close the trade; don’t fight it.