ETHOSLTD: Breakout and Retest

8 Ağu

Hey everyone! It's Afnan, and I’m going to share some cool stuff about a stock called ETHOSLTD .

on July 24, ETHOSLTD did something called a "breakout." It broke through its all-time high, which is like the highest point it has ever reached.

Now, after breakout, it came back down a little to the level where it broke out. If you look at the daily chart , you'll see that ETHOSLTD made a shape called a "rounding bottom." It’s like a big smiley face!

On July 24, this stock jumped over the top of this smiley face with a lot of people buying it (that's the volume part). When it came back down, not many people were selling it (the low volume part). This is cool because it shows that people aren’t really interested in selling the stock now.

This place where the stock bounced off is now a super important spot. It used to be a ceiling (resistance), but now it’s a floor (support). This change is called the "act of polarity" in technical terms.

So, here’s the plan: we can make a trade here because it’s a good spot to buy, hoping the price will go up again. For every bit we risk, we can aim to make at least double that (1:2 risk to reward).

That’s it for now! Let’s see how ETHOSLTD does. Happy trading!

14 Ağu

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