is showing multiple chart patters recently that show a typical distribution prior to a bullish
continuation. First of all, it hold the neckline in the head and shoulders
. Now, it's showing a pattern that can be understanded either as a bullish flag
or as a channel. Secondly, volume
is decreasing and RSI
is not showing spikes in either direction. Depending on your view, you can start already a long position now at the lows. This support level
around 11 to 13 has been holding very well, first as a neckline and now as the low of the flag/channel. It holded as the 50 day moving average as well. The other option is to wait for a breakout.