JTO is currently experiencing a minor pullback after recent gains, with the price hovering between $3.14 and $3.28 in the last 24 hours. The volume has decreased significantly (-16.41%), indicating some consolidation around these levels. However, the volatility is still present, with potential price movements driven by market sentiment and upcoming announcements or news. Given the range-bound movement, a scalping strategy seems ideal.
Potential Consolidation Pattern: The price appears to be consolidating within the range of $3.14 to $3.28. A breakout in either direction could trigger a short-term move. Keep an eye on these levels for potential entry.
Trading Strategy:
Long Position (Buy): Enter if price breaks above $3.28 with strong volume, aiming for a small upward target. Target price range: $3.40 to $3.45.
Short Position (Sell): Enter if price drops below $3.14 with increased volume, targeting a small downside move. Target price range: $3.00 to $2.95.
Entry Range:
Long: Above $3.28
Short: Below $3.14
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