We're likely to see a retest of the area of resistance, to confirm if we have a S/R flip. If resistance indeed turned support, the stock is a buy in my opinion, likely to retrace to the green channel, before probably looking for a weekly higher low.
Looks like a possible break out. 35% of the float is shorted. If the bulls remain in charge, they're going to take some of that bear money back.
Looks like a possible break out. 35% of the float is shorted. If the bulls remain in charge, they're going to take some of that bear money back.
Note
Note
The hourly uptrend was already lost. A retest of $8 is also among the possibilities, and considering the hourly lower high, a double bottom could lead to a falling wedge or simply break down to $7.50. We'll see...
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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.