On Shadow (SHDW), we highlight two key accumulation zones to watch in the event of a correction from the recent highs.
The first lines up with near-term support around $0.63, which marked the weekly candle close and an area that has shown some demand on pullbacks.
In the second instance, that would be that prices break decisively below $0.63, especially with a close below the weekly low near $0.58. In this case, you should probably await a further drop to the major support around $0.50.
This level should attract significant demand, given it halted multiple rally attempts over the past year before Shadow finally broke out.
We anticipate this support clustering around $0.50 will become very technically and psychologically meaningful going forward.
You may want to consider swing trading on bounces.
If you are investing for the long term, you should be buying SHDW on the dips to build up a sizeable position aligned with Shadow's emerging uptrend.
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