$FWDI This bearish candle packed a punch: down 8.89% over 24 hours, sliding all the way from 8.341 to 7.201, on just 1.5M in trading volume. Honestly, that kind of volume isn't enough to sustain much of a trend—it looks more like someone selling into thin liquidity.
Forward Industries is in the electrical equipment industry, which has nothing to do with the recent news about Hyperliquid setting up in Singapore. So this drop doesn't seem to have much to do with fundamentals; it's purely market action. 7.2 is today's low and a short-term support level, so whether it holds is crucial. Resistance is around 8.3; if it rebounds there, taking some profit wouldn't be a bad idea.
I'm leaning a little bearish, since the price has broken below the previous trading range and volume isn't picking up. If 7.2 breaks, the next level to watch is 6.8. If it can hold above 7.5, then consider entering, with a stop-loss at 7.0. With small-cap stocks like this, you need to move quickly—don't get attached to the trade.
Forward Industries is in the electrical equipment industry, which has nothing to do with the recent news about Hyperliquid setting up in Singapore. So this drop doesn't seem to have much to do with fundamentals; it's purely market action. 7.2 is today's low and a short-term support level, so whether it holds is crucial. Resistance is around 8.3; if it rebounds there, taking some profit wouldn't be a bad idea.
I'm leaning a little bearish, since the price has broken below the previous trading range and volume isn't picking up. If 7.2 breaks, the next level to watch is 6.8. If it can hold above 7.5, then consider entering, with a stop-loss at 7.0. With small-cap stocks like this, you need to move quickly—don't get attached to the trade.
