On a first glance on the weekly chart prices seems like it may fall back to the support line at $5.00. But on a closer examination of the daily chart, prices have mave made a mini 5 wave and aseemingly 3 wave correction, so it seems more like an more Impulsive move from $5.50 which is also a major support line. Daily stochs seems like suggesting an end of a wave, and weekly stochs at a critical juncture, breakout possible. However prices may consolidate into a triangle with prices ranging between $6.20 and $5.50. Monitor for opportunity to trade on break out. Too early to call.
But on a larger picture...prices may actually stay above support line and reach $8.00. Still pondering how to label the chart.
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