$SOS - Dead cat bounce or bottoming?
SOS is sending out distress signal (S.O.S). The stock looks to be in bottoming process but still too early to tell.
You would want to see stabilization between $1.62 and $3. $1.62 is a strong support area. Breaking below $1.62 would be bearish.
If you zoom out the chart you can take Jan, Feb 2021 price action as dead cat bounce. Which looks quite bearish.
I would not touch the stock until sentiment changes as there are way better plays elsewhere.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
You would want to see stabilization between $1.62 and $3. $1.62 is a strong support area. Breaking below $1.62 would be bearish.
If you zoom out the chart you can take Jan, Feb 2021 price action as dead cat bounce. Which looks quite bearish.
I would not touch the stock until sentiment changes as there are way better plays elsewhere.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
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