This needle isn’t going deep enough. It was hammered down to 0.033616, after dropping 12.85% over $AKE 24 hours, and then pulled back to the current 0.035825, which is stuck near the upper edge of a low-range consolidation area. There is still 28% of repair space before today’s high of 0.045986.
The four-hour candle closes with a long lower wick. At 0.0336, the price was probed three times during the day and failed to break down through it, forming short-term support. Upward, 0.0380 is the first resistance, corresponding to the start point of today’s spike-and-fall. Further up, 0.0421 is the neckline level of today’s high. Place the stop loss below 0.0328; if it breaks, it means this lower-wick setup is invalid. First, see whether it can hold above 0.0380—if it does, then try for 0.0421.
Trading value is 150 million, with trading volume of 39.7 billion shares. Compared with yesterday, volume is clearly higher, suggesting that the panic sellers have come out. After a sharp selloff, a pullback on reduced volume that stabilizes is often more worth watching than a slow, sideways grind.
As for the external trend line: only if it holds firm and doesn’t break this evening does $AKE —the lower wick—really count.
#AKE
The four-hour candle closes with a long lower wick. At 0.0336, the price was probed three times during the day and failed to break down through it, forming short-term support. Upward, 0.0380 is the first resistance, corresponding to the start point of today’s spike-and-fall. Further up, 0.0421 is the neckline level of today’s high. Place the stop loss below 0.0328; if it breaks, it means this lower-wick setup is invalid. First, see whether it can hold above 0.0380—if it does, then try for 0.0421.
Trading value is 150 million, with trading volume of 39.7 billion shares. Compared with yesterday, volume is clearly higher, suggesting that the panic sellers have come out. After a sharp selloff, a pullback on reduced volume that stabilizes is often more worth watching than a slow, sideways grind.
As for the external trend line: only if it holds firm and doesn’t break this evening does $AKE —the lower wick—really count.
#AKE