$CAP has broken below its 7-day low: current price 0.07016, previous low 0.07078.
After the breakdown, watch for two things:
· Whether the previous low of 0.07078 turns from support into resistance (if the price fails to reclaim it on a rebound)
· Whether trading volume increases during the breakdown; a low-volume break may be a false breakdown
In one sentence, what’s your take right now?
Just a personal opinion, not a basis for trading.
After the breakdown, watch for two things:
· Whether the previous low of 0.07078 turns from support into resistance (if the price fails to reclaim it on a rebound)
· Whether trading volume increases during the breakdown; a low-volume break may be a false breakdown
In one sentence, what’s your take right now?
Just a personal opinion, not a basis for trading.