AIMFLEX - Potential Breakout?

 

AIMFLEX Daily Chart

AIMFLEX declined from its peak at 0.235 to reach a low at 0.15. It completed a 5-wave decline and in the process has formed a MACD bullish divergence, where it made lower lows but its MACD made a higher lows. This suggests it may have bottomed out. Since then AIMFLEX has been moving sideways in a trading range between 0.15 and 0.17. Today (May 08, 2024), its trading volume spiked up indicating potential accumulation. Will it breakout above its trading range? Next resistances are at 0.185, 0.205 and 0.235.

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