After the wick at $EVAA 15, they finished shaking people out and pushed it back up. The low was around 1.40, but it rallied back to around 1.49 by the close. Volume was fairly heavy, and the signs of a shakeout were quite clear.
OI value is still rising, and positions haven’t been unwound. It poked above 1.60 in the morning, but couldn’t get past 1.56 in the afternoon—the resistance overhead is still there. Don’t chase longs unless it holds above 1.50; if it breaks below 1.45, then consider the short side. Put simply, these wicks are meant to shake people out. Don’t get swept up in the hype.
Not investment advice. Do your own analysis.
#EVAA #Market analysis
OI value is still rising, and positions haven’t been unwound. It poked above 1.60 in the morning, but couldn’t get past 1.56 in the afternoon—the resistance overhead is still there. Don’t chase longs unless it holds above 1.50; if it breaks below 1.45, then consider the short side. Put simply, these wicks are meant to shake people out. Don’t get swept up in the hype.
Not investment advice. Do your own analysis.
#EVAA #Market analysis
