Surge Holdings Inc (OTC:SURG) – Downtrend Broken, Signaling Breakout.

Today Surge Holdings Inc (OTC:SURG) broke a market volatility induced downtrend with a trailing daily volume breach, with 2 new resistance points broken today. Key points will be presented below, with each pointing towards new highs, if achieved.

Running a regression on volume(X)PRS, we can see that resistance point 1 was broken today. This is significant because the volume transformed the analysis as it was 75% increased buying vs selling during the dramatica increase in trading volume before the trend break (March 17, 2020). In short, this signifies that a market wide factor cause the drop in the trailing 2 trading sessions, with minimum Delta% returning to previous trading range.

Important to Note: If the resistance point of $0.25 breaks, and if volume keeps consistent, we should see a climb to the main $0.4 to $0.5 resistance point.

Leave a Reply

Your email address will not be published. Required fields are marked *