ASST: Trade write-up / 07 May

Daily Time-Frame Context





1h Chart


ASST gapped up over 300% pre-market on news of transitioning to a crypto holding company (a strong hype theme).

Despite being in a long-term downtrend, ASST had a history of prior gap-ups in 2023–2025.

Highest daily trading volume (HDW) ever recorded, with 80M shares traded pre-market.

Low short interest (0.5 days) and a relatively small float of 10.9M.

5-Min Time-Frame Analysis



Pre-Market Action:
Gap-up to Jan’25 highs, followed by shallow consolidation to the rising 8 EMA and VWAP (1h 8 EMA)

Opening Price Action:

• Price posted a failed breakdown setup, finding support at VWAP, Jan’25 highs, and the pre-market base.
  
• Selling volume remained low, while reversal volume showed substantial buying interest, with most bars closing at the highs.
  
• MACD signaled bearish posture during this reversal, hinting at potential upcoming consolidation.
  

Mid-Day Movement

Price reached a mid-day top with increased selling volume, reduced buying, bearish MACD, and flattening short-term EMAs.

Pullback Phase

• Price pulled back for 4 hours to early morning support (Jan’25 highs, pre-market top, morning reversal), with gradually decreasing volume, indicating drying-up selling interest.
  
• Pullback had a textbook three-wave structure with ideal Fibonacci proportions.
  

Consolidation and Breakout

Established a solid consolidation at the key support zone, featuring:

• Several shake-outs
  
• Buying volume dominating selling
  
• Sequance of higher lows formation
  
• Inside bars prior to breakout
  
• MACD turning bullish
  

Possible Entries

Aggressive Entry:
Failed breakdown and V-shaped reversal with an 11% stop at LOD.

Ideal Entry/Aggressive add-on:
After the shake-out/inside bars sequence on low volume, breakout confirmed by bullish convergence of EMAs and VWAP. Full stop could be placed bellow higher low.

Active Uptrend Phase

• Price respected the 8 EMA during the active advance phase, pausing only during halts.
  
• (!) Gradually increasing buying volume without a sudden spike - a sign of steady buying rather than stop-loss coverage.
  
• Noticeably lower selling volume compared to buying volume.
  
• Price approached the next significant daily resistance zone at Jan’24 highs - a potential profit-trimming target.
  

Swing-Trading Thesis

1. Strong crypto-related hype (becoming a crypto holding company).
   
2. Crypto sector showing relative strength since the market top and recovery phase.
   
3. Price maintained above key short-term moving averages into the close and post-market, supporting the bullish case.
   
4. Bitcoin pullback and altcoin breakout setups further enhance the thesis.