Bullish Scenario:
Trend Reversal in Play: The stock has reversed and is trading above all major moving averages — the classic sign of a trend reversal.
PMO has a strong bullish crossover and is rising sharply. RSI is at ~60 and climbing — healthy momentum without being overbought.
Next Resistance: Price is aiming for the $88.89 zone — a clean trendline and horizontal resistance. Breaking and closing above that would open up a gap fill toward $121.16.
Volume Profile: There's a volume vacuum above $90 — if price enters it, it could fly quickly toward $100+ due to lack of supply.
Trigger: Breakout above $88.89
Target: $100 → $121
Support on pullback: $76.78 → $70.46
Bearish Scenario:
Rejection Risk at Downtrend Line: The $88.89 level is not just a horizontal resistance, it also aligns with the long-term downtrend line — rejection here would be meaningful.
Gap Below: There’s unfilled liquidity down to $70–$72 — any break below $76.78 could flush price into that gap.
Volume Resistance: Heavy red volume bars stack up from $90 to $121 — any lack of strong buying could stall the rally hard.
Trigger: Rejection at $88.89 + close below $76.78
Target: $70 → $65
Invalidation of uptrend: Breakdown below $69.47
Current Inclination: Bullish Bias
Price is trending up with strong volume, good distance from moving average cluster, and confirmation from PMO and RSI.
We’re in early breakout phase — not full-blown trend yet, but momentum favors more upside.
Risk lies only if $88.89 acts as a brick wall again
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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.