So the current resistance around SEK 32,- could be a good moment to take some profit if you've been holding Vicore already as it's around the all time high of July 2017.
However, this does not mean that the uptrend has to be over! Just means it's a likely location for a healthy retrace.
So if you're looking for good entries I have 2 possible scenarios:
- Green scenario; a retest of the previous resistance which is now support, around SEK 26-27. Which coincides with the 0.382 fib of the latest impulse.
- Orange scenario; a break up above the resistance around SEK 32,- and then a retest of this resistance (turned support).
Note that with both scenarios, you have to wait for clear signs of actually finding support, before considering a buy. Just saying these are likely areas at which support and buying opportunities can present themselves.
However, this does not mean that the uptrend has to be over! Just means it's a likely location for a healthy retrace.
So if you're looking for good entries I have 2 possible scenarios:
- Green scenario; a retest of the previous resistance which is now support, around SEK 26-27. Which coincides with the 0.382 fib of the latest impulse.
- Orange scenario; a break up above the resistance around SEK 32,- and then a retest of this resistance (turned support).
Note that with both scenarios, you have to wait for clear signs of actually finding support, before considering a buy. Just saying these are likely areas at which support and buying opportunities can present themselves.