$PROP trying to base after a massive dump... legit bottom or just resting before it breaks $1?

Muhammad Iqbal bin

been tracking prairie operating co ( $Prairie Operating Co.(PROP)$ ) and this chart is giving me a headache. it had that crazy run up to 2.30 at the start of the month and then just fell off a cliff. basically gave back a full dollar in a straight line.

looking at the 1h right now, it looks like it's finally trying to build a base around 1.20. whoever charted this has a solid risk/reward setup mapped out. it's wedging up tight against that yellow resistance line and is basically fighting the 55 EMA (1.22) right this second. price is currently 1.24.

the macd is completely flatlined though. zero momentum.

unpopular opinion: people buying this expecting a quick bounce back to 2 bucks are delusional. this sector is totally washed right now and this bounce is purely algos hunting liquidity. any pump to 1.45 is just a gift to let bagholders exit.

that being said, the r/r down here is decent if you use a strict stop loss under 1.00. targeting that 1.46 previous support/resistance flip. chart by @Owen Moshey

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Comments

Zion Everhart
04-30
Zion Everhart
Most retail traders would have bought this completely blind at 1.40 last week and just hoped for a bounce. The fact that people are actually mapping out the compression and waiting for the setup shows that guys like Moshey are actually making a positive dent in the trading community.
Deposit
04-30
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