Bearish looking pennant has formed since Feb, but the volume looks constructive for at least one more upshot at 40s.
One of the better looking growth charts...should money rotate into growth names at some point.
Trend is clearly down, and price below all key moving averages, so bears have control until picture changes.
Break below could test 25, which was the post covid breakout. I would wait for either consolidation above 34 or to breakdown to 25 and see how price acts there.
For now, do nothing
One of the better looking growth charts...should money rotate into growth names at some point.
Trend is clearly down, and price below all key moving averages, so bears have control until picture changes.
Break below could test 25, which was the post covid breakout. I would wait for either consolidation above 34 or to breakdown to 25 and see how price acts there.
For now, do nothing
Trade active
Broke below 25 with a ugly volume...now will need miracle to repair the damaged chart.Good support around 12...could pop and continue to fade. Not a buyer here.
Note
As expected, found support at 12 and popped, watch for fade now.
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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.