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!
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.