Outlook
Price broke above the cloud on 20 November 2020 to reach a high of $1.30 just 2 days later. Since that high, price has stayed above the cloud during the correction. Price has also managed to stay above the Base line at $1.14. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago and is above the cloud at the moment. MACD remains bullish. We think the correction could be coming to an end and the rally is likely to resume for a test of the high at $1.30. On a longer term basis, we think price can reach $1.38.
Strategy
$1.14 Buy
$1.30 Price Target
$1.05 Risk Management Stop
3 week Trade Duration
