support becomes resistance and vice verca

28 Sep 2021

today we saw the bears very strong but they couldnt brake the $4.00 significant. the $4.00 and the $6.50 areas seems to be very strong areas. first the $4.00 has been a very strong resistance in the past and today it is functioning as a support. so still a good entry for the bulls. if we would brake the $4.00 area for a day and closing below i would close my position. but tell is still lagging the volume that is, until now, not as high than in earlier triangles. so everything is still possible. my target is still $6.50, which is the next possible resistance and also a very strong one. that would confirm the bullish trend of higher highs and higher lows. also all the technical indicators are looking very bullish. tell only needs to break the ma200 than it would probably going to the moon.

of course is this only an idea and by no means financial advice.
comment if you like or if you disagree with my thoughts