$SEI - At a Critical Daily Support
Here's the setup I'm tracking:
Level to Hold: The crucial support at $0.1250. This level has been a pivot point recently. A strong bounce here is needed to maintain any bullish structure.
Signal: A bullish reversal candle (like a hammer or bullish engulfing) forming on the daily chart at the $0.1250 level with increasing volume would be a potential long entry signal.
Target: If support holds, the first major target is a move back to the $0.1350 - $0.1400 resistance zone. A break above that opens a path toward $0.1500.
Invalidation: A sustained daily close below $0.1200 would break this support structure and likely trigger a deeper decline toward $0.1100.
Stop: Below $0.1200
Bias: Neutral/Cautiously bullish only on a confirmed hold of $0.1250.
