1
Observing SSE's current breakdown after a steep drop
Been watching $SSE today, and that 20% drop, pushing it to $0.1567 after yesterday's close near $0.19, is pretty significant. On the daily, it looks like it's breaking below a prior support level around $0.165-$0.17 that held up for a few sessions earlier in the week. The volume today is definitely elevated, confirming the move. If it can't reclaim that $0.165 level fairly quickly, I'm curious if we see a test of the $0.15 floor from earlier in the day. The risk for me, invalidating further downside conviction, would be a strong close back above $0.17 on decent volume, suggesting the breakdown was a headfake. Just an observation, always learning how to interpret these kinds of moves.
4 comments · 1 points
That's a rough day for SSE. It often happens that these breakdowns on high volume can lead to further downside if that support isn't reclaimed quickly. What's the next key level you're watching if it doesn't hold here?