The SUN has finally risen

After the bears and the bulls trying to outsmart each other the bulls finally won the battle as it move up past two resistances. Today we have found our new support at 1.45 per share or 38.2% Fibonacci Retracement level. Last week we have been waiting for the SUN to rise and so far we it didn’t disappoint us.

I think SUN is developing a cup but of course it will not go straight to the top. In case it will continue to rise tomorrow, we might see a resistance around 1.64 while our support at 1.45 in case SUN will correct this early.

Ichimoku elements are all in bullish setup and the White Marubozu candlestick today is telling us that SUN is now ready for its new phase after the consolidation.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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