$PONS has broken to a new 24-hour high: current price 0.3617, previous high 0.3587.
After the breakout, there are two key things to watch:
· Can the previous high of 0.3587 turn from resistance into support (holding on a retest)?
· Was the breakout accompanied by sufficient volume? A breakout on low volume can easily turn out to be a false breakout.
Which way do you think it’ll go? Let us know in the comments.
How you trade is up to you—this is just for sharing.
After the breakout, there are two key things to watch:
· Can the previous high of 0.3587 turn from resistance into support (holding on a retest)?
· Was the breakout accompanied by sufficient volume? A breakout on low volume can easily turn out to be a false breakout.
Which way do you think it’ll go? Let us know in the comments.
How you trade is up to you—this is just for sharing.