Technical analysis by landry_anael1 about Symbol MBOX: Buy recommendation (11/17/2024)

Trade Setup:Entry Price: Immediate entry at $0.1969 (current market price).Stop-Loss: Place at $0.1833Take-Profit Target: $0.2385, based on the 1.618 Fibonacci extension.Why Immediate Entry Works:Bullish Continuation: The price is consolidating near the 0.5 Fibonacci retracement, which is often a strong level for a continuation move.Support Confirmation: The 200 SMA at $0.1829 is a reliable dynamic support level, adding confidence to the bullish bias.Momentum Potential: An upward bounce from the current levels suggests a possible rally toward the 1.618 extension at $0.2385.