Over the course of the last week or so, ROSE has formed an inverted head & shoulders pattern. Classically, this pattern is a bullish pattern. However, seeing the tensions in the overall market, there's a decent probability for this pattern to not play out bullish. In case of more downside pressure, expect the $0.215 area to offer strong support.
I'd advice to wait for a daily close above $0.24 before entering this trade.
Happy trading!
I'd advice to wait for a daily close above $0.24 before entering this trade.
Happy trading!
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