📈 Since April, the stock has almost doubled, running in a very strong bull trend. Right now though, it looks like that move is pausing:
• Current resistance around 1111.5 vs. the previous high of 1109 → clear consolidation zone
• Loss of upside momentum with the daily RSI flattening
• Key support sits at 1051, with a notable gap between 1008–1037 (exhaustion gap or measuring gap?).
On the weekly chart, the trend is still very extended, underpinned by the 55-week moving average. We’ve often seen mean reversion back to the 20-week MA, which currently sits at 903.
🔎 Bottom line:
• This market remains in a bull trend above the 55-week MA
• A corrective dip lower is possible, but not necessarily a reversal
• A pullback to the moving average could actually be healthy.
👉 Watching closely for whether this is just consolidation — or the start of a bigger correction.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
• Current resistance around 1111.5 vs. the previous high of 1109 → clear consolidation zone
• Loss of upside momentum with the daily RSI flattening
• Key support sits at 1051, with a notable gap between 1008–1037 (exhaustion gap or measuring gap?).
On the weekly chart, the trend is still very extended, underpinned by the 55-week moving average. We’ve often seen mean reversion back to the 20-week MA, which currently sits at 903.
🔎 Bottom line:
• This market remains in a bull trend above the 55-week MA
• A corrective dip lower is possible, but not necessarily a reversal
• A pullback to the moving average could actually be healthy.
👉 Watching closely for whether this is just consolidation — or the start of a bigger correction.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
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.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
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.