$NEAR — why $5 matters
In the recovery scenario, the $5 area around $NEAR acts as a turning point. A weekly close above this zone followed by holding above it would support further gains.
The alternative is a failed breakout and a deeper correction. Particular attention should be paid to situations where divergences appear after a sharp rise and local lows are reached again.
Consolidation near resistance is also possible; it could set the stage for another breakout attempt. That’s why the sequence of closes and a retest of the zone matter. Buying directly into resistance leaves little room for error.
In the recovery scenario, the $5 area around $NEAR acts as a turning point. A weekly close above this zone followed by holding above it would support further gains.
The alternative is a failed breakout and a deeper correction. Particular attention should be paid to situations where divergences appear after a sharp rise and local lows are reached again.
Consolidation near resistance is also possible; it could set the stage for another breakout attempt. That’s why the sequence of closes and a retest of the zone matter. Buying directly into resistance leaves little room for error.