XCAD ready for the next leg up to $12
Recent outlook:
XCAD has been ranging $5.2 and $8.3 since early November.
The price has hold strong to the uptrending support like (thick green)
Recently bounced from the RSI historic low at around 40
MACD cycles have been diminishing, but recently broke from the downtrend and signal line crossed above showing a bullish signal.
I was not a fan of the RSI-price bearish divergence (price up, RSI down), but this was invalidated
in the last couple of days, so all good so far.
Historical movements:
Historically, bounces off the long term support line resulted in break of previous resistance.
Price Prediction:
We bounced off the resistance line once more on Jan 11, with a +42% price increase.
We know that after the possible rally we expect to retrace to about +25% from current resistance.
The would be about at $10.65 for the new support level, with psychological support at $10.
Therefore, I would expect the rally to total to 181%, meaning another 140% upside from here to $17.24 dollars.
Adjusted price prediction (conservative)
Based on the fact that strength of moves has been decreasing between the 1st and the 2nd
I would then adjust this to a +120% - +130%, giving us another +80% upside from here, putting the price at $11.3 and a retrace to a new support at $8.5 (current resistance).
XCAD has been ranging $5.2 and $8.3 since early November.
The price has hold strong to the uptrending support like (thick green)
Recently bounced from the RSI historic low at around 40
MACD cycles have been diminishing, but recently broke from the downtrend and signal line crossed above showing a bullish signal.
I was not a fan of the RSI-price bearish divergence (price up, RSI down), but this was invalidated
in the last couple of days, so all good so far.
Historical movements:
Historically, bounces off the long term support line resulted in break of previous resistance.
- The first on Sept 1st 2021 resulted in a rally of +228% and a retrace to the 0.61 Fib level, where the level was turned to support with a +25% from the previous resistance.
- The second on Oct 20th 2021 resulted in a rally of +167% and once again a clean retrace to the 0.61 Fib, where the level was turned to support with a +28% from previous resistance.
Price Prediction:
We bounced off the resistance line once more on Jan 11, with a +42% price increase.
We know that after the possible rally we expect to retrace to about +25% from current resistance.
The would be about at $10.65 for the new support level, with psychological support at $10.
Therefore, I would expect the rally to total to 181%, meaning another 140% upside from here to $17.24 dollars.
Adjusted price prediction (conservative)
Based on the fact that strength of moves has been decreasing between the 1st and the 2nd
I would then adjust this to a +120% - +130%, giving us another +80% upside from here, putting the price at $11.3 and a retrace to a new support at $8.5 (current resistance).
כתב ויתור
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