Hello Traders. Hope everything is fine. Today I want to share my thoughts on NPXS. As you can see in the 4H chart, price is moving in a upward channel and it has touched bottom and top of the channel many times. There are 2 reasons that I think NPXS is going to touch the support area ( purple range ) :
1) Every time that it has touched top of the channel, price has corrected towards the bottom of the channel. 2) You can clearly see a negative divergence on rsi where NPXS has made higher highs but the indicator has made lower highs.
So in my opinion, you can make a short position here.
Entry : 0.0072$ Target : 0.0058$ ( purple range ) Stop loss : 0.0078$