MSOS Chart Update: Watching for a Potential Bottom as Lower Highs Continue

 Well, the waiting continues for me as MSOS makes yet another lower daily high. This marks the fifth consecutive lower high, and it has me on alert, watching carefully for a potential long entry. It’s hard not to notice the similarity to November 20th, when we saw a comparable setup. Back then, MSOS also made consecutive lower daily highs, and that series of highs ended up marking a significant low. That historical context is why I’m particularly attentive this time around.

Volume has been shrinking over the past several days, which is understandable given the holiday season. Low volume is expected during Christmas, but it still tells me something important, the market is slowing down, consolidating and getting ready for its next move. We’re still within the gap area which I feel will act as a large zone of support. This is one of the reasons I expect MSOS to put in some kind of bottom any day now.

Another point I’m watching closely is the presence of back to back inside days. This pattern signals a slowdown in momentum and often precedes a more decisive move. I like to see this type of action as a potential setup for a directional trade. Personally, what I’ll be looking for is a break above the mother candle’s high at $4.87. If MSOS can take out that level, the next key spot will be $5, which I consider very important. Reclaiming that mark could signal a meaningful shift in sentiment.

Of course, I’m aware that plans don’t always unfold the way we hope. As Mick Jagger famously said, “You can’t always get what you want.” That’s something I keep in mind every time I sit in front of the charts. My approach is to take it one day at a time, reacting to the price action as it develops, rather than trying to force a trade.

We also have the bullish seasonal kicking in next month, which adds another layer of anticipation for me. Overall, my plan is clear, watch for a bottom, monitor the inside days, and wait for a breakout over $4.87 before considering a long entry. For now, patience is the key, and I’ll let the market reveal its next move.

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