$SKL has broken below the 0.005 level; the current price is 0.00501.
Near a key price level, I usually look at three things:
① Holding above: An intraday dip below doesn’t count; it’s a confirmed breakdown only if the entire candlestick closes below 0.005.
② Rebound: Can the price reclaim the 0.005 area on a rebound? If not, support has turned into resistance.
③ Volume: Did volume increase during the breakdown? A breakdown on lower volume is more likely to be false.
The price is now back above this level, so the first condition has not been met.
#SKL
This post is for informational purposes only and does not constitute investment advice.
Near a key price level, I usually look at three things:
① Holding above: An intraday dip below doesn’t count; it’s a confirmed breakdown only if the entire candlestick closes below 0.005.
② Rebound: Can the price reclaim the 0.005 area on a rebound? If not, support has turned into resistance.
③ Volume: Did volume increase during the breakdown? A breakdown on lower volume is more likely to be false.
The price is now back above this level, so the first condition has not been met.
#SKL
This post is for informational purposes only and does not constitute investment advice.