Sandbox (SAND) technical analysis:
Trade setup: Bullish breakout from Descending Triangle and above $0.60 (also 200-day MA) could signal a bullish trend reversal, with upside potential to $0.70-$0.80.
Pattern: Price is trading in a Descending Triangle pattern. Typically, a breakout will occur in the direction of the existing trend. Most traders will take a position once the price action breaks through the bottom line of the triangle with increased volume, which is when the price should decline an amount equivalent to the widest section of the triangle.
Trend: Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.50, then $0.38. The nearest Resistance Zone is $0.75, then $1.00.
Trade setup: Bullish breakout from Descending Triangle and above $0.60 (also 200-day MA) could signal a bullish trend reversal, with upside potential to $0.70-$0.80.
Pattern: Price is trading in a Descending Triangle pattern. Typically, a breakout will occur in the direction of the existing trend. Most traders will take a position once the price action breaks through the bottom line of the triangle with increased volume, which is when the price should decline an amount equivalent to the widest section of the triangle.
Trend: Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.50, then $0.38. The nearest Resistance Zone is $0.75, then $1.00.