$MAGIC has lost the 0.13 level; the current price is 0.1232.
Around key levels, I usually look at three things:
① Close: An intraday break doesn’t count. It’s only a genuine breakdown if the entire candlestick closes below 0.13;
② Retest: Can the price rebound to around 0.13 and reclaim it? If it can’t close back above, support has turned into resistance;
③ Volume: Is trading volume picking up during the breakdown? A break on low volume is more likely to be false.
#MAGIC
Around key levels, I usually look at three things:
① Close: An intraday break doesn’t count. It’s only a genuine breakdown if the entire candlestick closes below 0.13;
② Retest: Can the price rebound to around 0.13 and reclaim it? If it can’t close back above, support has turned into resistance;
③ Volume: Is trading volume picking up during the breakdown? A break on low volume is more likely to be false.
#MAGIC