$MAGMA broke below the 7-day low: current price 0.2531, previous low 0.2582.
After the breakdown, watch two things:
· Whether the previous low of 0.2582 turns from support into resistance (the rebound fails to break above it)
· Whether volume increases during the breakdown; a break on low volume may be a false breakdown
What’s your take on this level?
#MAGMA
After the breakdown, watch two things:
· Whether the previous low of 0.2582 turns from support into resistance (the rebound fails to break above it)
· Whether volume increases during the breakdown; a break on low volume may be a false breakdown
What’s your take on this level?
#MAGMA