Look @ EXPR DAILY
Updated
NYSE:EXPR
Looking at daily chart of EXPR, the following is my insights:
1. EXPR was in a steady uptrend from Aug 2019 until Dec 2019
2. During Dec 2019 and on a reaction to Earning report, EXPR exploded above the steady uptrend channel hitting a high of 6.24.
3. Since December and until now, EXPR has been retracing back. It reached a bottom of the original up trend channel which is a strong support area and very good buy area.
I believe that EXPR will recover again during next weeks - In Sha Allah - to resume its up trend journey back to 6$. This is supported by the volume analysis which shows still the peak volumes were buying and during the retracement, less volumes were observed.
It is very important to watch for down trend channel (In Red) that EXPR made for itself while retracing. These will be very strong resistances. Based on the latest retracement we may see increase in EXPR short interest which makes it potential for a short squeeze.
Looking at daily chart of EXPR, the following is my insights:
1. EXPR was in a steady uptrend from Aug 2019 until Dec 2019
2. During Dec 2019 and on a reaction to Earning report, EXPR exploded above the steady uptrend channel hitting a high of 6.24.
3. Since December and until now, EXPR has been retracing back. It reached a bottom of the original up trend channel which is a strong support area and very good buy area.
I believe that EXPR will recover again during next weeks - In Sha Allah - to resume its up trend journey back to 6$. This is supported by the volume analysis which shows still the peak volumes were buying and during the retracement, less volumes were observed.
It is very important to watch for down trend channel (In Red) that EXPR made for itself while retracing. These will be very strong resistances. Based on the latest retracement we may see increase in EXPR short interest which makes it potential for a short squeeze.
Note
EXPR is moving as per expectations. We have seen a reversal which require further buying volume to boost. We will keep watching how EXPR will be behaving once approaching the trend down line which is aligned with 38.2% FIBO line.Keep watching
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