Today, I am answering some questions from my followers. To honor the fact that I am back on Tradingview with some high quality TA.
A loyal follower reached out to me today with the question: "Is SXP worth HODLing?". My answer to this question is a simple yes. The reason for this? Technical analysis.
We can see a beautiful S/R flip here on SXP where an earlier resistance turns into newly found support. After a beautiful confirmation of this zone, the price started a new uptrend.
This is a fantastic moment to buy SXP knowing that it recently showed it's capable of being traded at levels as high as $5. An entry of around $2.50 gives you a fantastic 100% growth opportunity.
I suggest the three horizontal levels on the right as profit targets. Res 1 = Target 1, res 2 = target 2, res 3 = target 3.
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- Trading Guru
-------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!