Hi all I hope you had a great Christmas with your family and here we are back to the charts! =)
I'd like to share my opinion on Argo and give an update to my ideas.
I used here a 4h chart (you can use the weekly and monthly one too) just because I noticed that the share price went down to 70 on the 29th of July and up to 202 on the 22nd of September and with bigger timeframe we cannot see it and this episodes gave me the idea of today.
For more than 6 months the share price has been exchanged between the range (110-150) as per the fixed range volume profile that shows where has been exchanged most. ( as per the yellow triangle)
For this reason I think that the price will definitely come back to the yellow area once find out where is the possible bottom.
It seems that the price is attracted now to the previous support area at 60-75.
I'd wait to open a long position for a swing trade now just because the Cryptomarket and the Stockmarket are both experiencing an uncertain period and I'd wait for confirmations .
If you are IN for long term it's great for some accumulation to average the price down a bit.
( for those that are interested on updates and looking on what Argo is doing , on YouTube Argo Ceo regularly updates videos where He talks about the company and the period in general and answers to questions made by Investors , super interesting check it out)
As per chart to figure out some targets prices I used the Trend-based Fibonacci extension.
Let me know what you think !
Comment are always Welcome.
Cheers.
I'd like to share my opinion on Argo and give an update to my ideas.
I used here a 4h chart (you can use the weekly and monthly one too) just because I noticed that the share price went down to 70 on the 29th of July and up to 202 on the 22nd of September and with bigger timeframe we cannot see it and this episodes gave me the idea of today.
For more than 6 months the share price has been exchanged between the range (110-150) as per the fixed range volume profile that shows where has been exchanged most. ( as per the yellow triangle)
For this reason I think that the price will definitely come back to the yellow area once find out where is the possible bottom.
It seems that the price is attracted now to the previous support area at 60-75.
I'd wait to open a long position for a swing trade now just because the Cryptomarket and the Stockmarket are both experiencing an uncertain period and I'd wait for confirmations .
If you are IN for long term it's great for some accumulation to average the price down a bit.
( for those that are interested on updates and looking on what Argo is doing , on YouTube Argo Ceo regularly updates videos where He talks about the company and the period in general and answers to questions made by Investors , super interesting check it out)
As per chart to figure out some targets prices I used the Trend-based Fibonacci extension.
Let me know what you think !
Comment are always Welcome.
Cheers.