Clover Health Rallies Despite An Early Sell-off Into A $6.31 Low
The movement of 
CLOV continues to mirror the condition of the overall market. Today, the tech-led sell-off took a pause, with S&P 500 rising by 1.95% and NASDAQ Composite rising by 1.55%. Similarly, Clover Health ended higher by 7.54%, closing above the previous day's close.
Going into next week, I expectCLOV performance to continue reflecting the overall market condition. Nevertheless, these are some notable resistance and support area that you should take note next week, with key areas highlighted in Bold:
Psychological resistance: $8.00, $8.50, $9.00
Psychological support: $7.50, $7.00, $6.50, $6.00
Fibonacci resistance: $9.92
Fibonacci support: $7.78, $6.67, $5.07
Dynamic resistance: Bottom of the previous bearish channel that we were trading in before this market correction (~$8.50)
Dynamic support: Top of the very tight bearish channel that we just broke out of (~$7.10)
Once this correction is over, I expectCLOV to emerge as one of the winners.
Invest safe.
This is not investment advice so please do your own due diligence!
Support this idea with likes and share your thoughts below.
CLOV continues to mirror the condition of the overall market. Today, the tech-led sell-off took a pause, with S&P 500 rising by 1.95% and NASDAQ Composite rising by 1.55%. Similarly, Clover Health ended higher by 7.54%, closing above the previous day's close.Going into next week, I expect
CLOV performance to continue reflecting the overall market condition. Nevertheless, these are some notable resistance and support area that you should take note next week, with key areas highlighted in Bold:Psychological resistance: $8.00, $8.50, $9.00
Psychological support: $7.50, $7.00, $6.50, $6.00
Fibonacci resistance: $9.92
Fibonacci support: $7.78, $6.67, $5.07
Dynamic resistance: Bottom of the previous bearish channel that we were trading in before this market correction (~$8.50)
Dynamic support: Top of the very tight bearish channel that we just broke out of (~$7.10)
Once this correction is over, I expect
CLOV to emerge as one of the winners.Invest safe.
This is not investment advice so please do your own due diligence!
Support this idea with likes and share your thoughts below.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.