lunc holder
$LUNC — Current Read B but manage risk)
Price action: $LUNC printed several strong green candles with above-average volume, showing buyers stepped in aggressively and short-term momentum has turned positive.
Why this matters:
• Volume confirmation — the move is supported by higher trading volume, which increases the chance this rally is real rather than a low-volume spike.
• Momentum shift — short-term indicators (e.g., RSI and fast moving averages) show upward momentum after a recent consolidation.
• Market structure — price cleared a nearby resistance zone and is now retesting it as support; a successful retest would raise the probability of continuation.
Scenarios to watch:
• Bull case — if price holds the new support and volume remains strong, expect the next leg higher toward the next resistance cluster. Watch for higher highs on the hourly and daily charts.
• Bear case — if the retest fails and volume spikes on selling, this could be a classic bull trap; losses could accelerate back toward the prior support range.
Practical plan (example, not financial advice):
• Entry: consider adding on strength above the confirmed retest (or use phased entries).
• Targets: set realistic, staged targets based on nearby resistance levels and your timeframe (short-term → take partial profits; medium-term → let a portion run).
• Risk: place a stop-loss below the retest support or your maximum acceptable drawdown. Use position sizing so a stop-loss equals an amount you’re comfortable losing.
Bottom line: The chart is bullish right now — buyers are in control — but treat this as a trend-following opportunity with strict risk management. Expect volatility; protect capital first, then chase gains.
