$MAGMA hits a 7-day high: current price 0.2603, previous high 0.258.
After the breakout, two things matter:
· Can the previous high of 0.258 turn from resistance into support (hold on a retest)?
· Was the breakout accompanied by volume? Breakouts on low volume often turn out to be false breakouts.
Is this a signal or a trap?
After the breakout, two things matter:
· Can the previous high of 0.258 turn from resistance into support (hold on a retest)?
· Was the breakout accompanied by volume? Breakouts on low volume often turn out to be false breakouts.
Is this a signal or a trap?