I like to bet that it is by buying some today.
Take a look at the weekly chart below.
Did you see how the price level find support at $3.81 area for the last five weeks? I also like the long-tail 15m chart where price has traded back up to $4.00 level. A daily doji bar for now could also be a positive sign for a neutral ground before heading back up (or down).
A stop below $3.80 for a stop will yield a good low risk trade with high reward if this is the bottom.
My 2 cents.Comments »