TRADE OF THE DAY | STMX broken market structure | Possible 13.3%
STMX like alot of other ALTS right now is looking like further downside could ensue with this latest Binance-SEC bombshell. What makes this more appealing than the others is the clear break of market structure and a significant long term support sitting within a nice take profit target to comfortably deliver a 1:1 R:R here.
We do have a bearish divergence in play along with a strong break down in the RVI trendline