We can see the double bottom formation pretty clearly hear on the weekly chart…its not as obvious on the daily so I chose to post this idea from the weekly time frame. We have two potential targets here for measured move. We also have a potential resistance zone just before the 1st target at 48 cents. This is where the 1day 200ma (not shown here) currently resides. I anticipate it will offer at least temporary resistance. Both of these measured move targets are above it though so ultimately I think we will at least overcome the 200ma long enough to hit the first target. *not financial advice*
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First target hit! We wicked just above the 1day 200ma to hit it and now as I anticipated it is acting as current resistance. I assume we will flip it to support at some point on the way to hopefully hit the 2nd higher measured move target.