Easy sell signal at top of the channel. Now looking for re-entry positions.
Possible re-entry levels:
$3.06-$3.20 (Dotted Line inside channel) - Not only is there so much price action here it also lines up with our 50MA. Could be a great bounce target.
$2.55-$2.75 (Bottom of Channel) - This is key support of the channel and would probably have a lower chance of occuring but in my opinion is a grea long-term hold. If we give up this level we could see much lower prices depending on the overall market.
Possible re-entry levels:
$3.06-$3.20 (Dotted Line inside channel) - Not only is there so much price action here it also lines up with our 50MA. Could be a great bounce target.
$2.55-$2.75 (Bottom of Channel) - This is key support of the channel and would probably have a lower chance of occuring but in my opinion is a grea long-term hold. If we give up this level we could see much lower prices depending on the overall market.