How many of you got shaken out by that move just now?
It surged as high as 0.2982, but couldn’t hold there—one sharp drop sent it crashing through to around 0.2653. That sell-off over the past ten minutes or so was basically aimed at clearing out highly leveraged positions below. After the drop, a little volume came in near the bottom, and it’s now slowly recovering to around 0.2745.
My personal take is that I wouldn’t chase a long at this level. The bounce looks fairly weak, and it could easily keep oscillating between 0.27 and 0.28. Let’s first see whether it can get back above 0.28 tonight.
Friends, do you think this was a shakeout, or has it really peaked? 👇
#pons $PONS
It surged as high as 0.2982, but couldn’t hold there—one sharp drop sent it crashing through to around 0.2653. That sell-off over the past ten minutes or so was basically aimed at clearing out highly leveraged positions below. After the drop, a little volume came in near the bottom, and it’s now slowly recovering to around 0.2745.
My personal take is that I wouldn’t chase a long at this level. The bounce looks fairly weak, and it could easily keep oscillating between 0.27 and 0.28. Let’s first see whether it can get back above 0.28 tonight.
Friends, do you think this was a shakeout, or has it really peaked? 👇
#pons $PONS
