Technical analysis by altFINS about Symbol TWT: Buy recommendation (8/22/2024)

Trade setup: Price is in a Downtrend, however, it had a bullish breakout from Falling Wedge pattern, which could signal at least a temporary bullish trend reversal with upside potential to $1.00 to $1.10 resistance. Stop Loss at $0.80. This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend. Learn to trade breakouts in Lesson 7 and Risk Management in Lesson 9.Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Learn to trade chart patterns in Lesson 8.Trend: Short-term trend is Neutral, Medium-term trend is Strong Down and Long-term trend is Strong Down.Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).Support and Resistance: Nearest Support Zone is $0.70. Nearest Resistance Zone is $1.00, then $1.10.