$MAGMA broke through the 0.4 mark, with the current price at 0.4617.
For key price levels, I usually look at three things:
① Close: An intraday touch doesn’t count; it’s a valid breakout only if the entire candlestick closes above 0.4;
② Retest: Can the price hold near 0.4 on a pullback? If it does, resistance has become support;
③ Volume: Did volume increase during the breakout? Breakouts on declining volume are more likely to be false.
#MAGMA
For key price levels, I usually look at three things:
① Close: An intraday touch doesn’t count; it’s a valid breakout only if the entire candlestick closes above 0.4;
② Retest: Can the price hold near 0.4 on a pullback? If it does, resistance has become support;
③ Volume: Did volume increase during the breakout? Breakouts on declining volume are more likely to be false.
#MAGMA