$INIT broke below the 0.19 level; the current price is 0.1872.
Around key price levels, I usually look at three things:
① Close: an intraday dip below doesn’t count; it’s a confirmed break only if the entire candlestick closes below 0.19;
② Rebound: can the price reclaim the area around 0.19 on a rebound? If it can’t, support has turned into resistance;
③ Volume: did volume pick up during the break? A break on lower volume is more likely to be false.
Around key price levels, I usually look at three things:
① Close: an intraday dip below doesn’t count; it’s a confirmed break only if the entire candlestick closes below 0.19;
② Rebound: can the price reclaim the area around 0.19 on a rebound? If it can’t, support has turned into resistance;
③ Volume: did volume pick up during the break? A break on lower volume is more likely to be false.
