$ON has moved above the 0.175 level, with the current price at 0.1768.
Near key price levels, I usually watch three things:
① Close: An intraday move above it doesn’t count; the whole candlestick must close above 0.175 for it to be a genuine breakout.
② Pullback: Can it hold near 0.175 on a pullback? If so, resistance has turned into support.
③ Volume: Did volume increase during the breakout? Breakouts without increased volume are more likely to fall back.
#ON
Near key price levels, I usually watch three things:
① Close: An intraday move above it doesn’t count; the whole candlestick must close above 0.175 for it to be a genuine breakout.
② Pullback: Can it hold near 0.175 on a pullback? If so, resistance has turned into support.
③ Volume: Did volume increase during the breakout? Breakouts without increased volume are more likely to fall back.
#ON