NET – some observation
Since reaching a low of around $40 early this year, stock has been rebounding. Tested the $40 level couple of times. That level is likely to act as a strong support.
Additionally, since its IPO (2019) to Dec 2021, the weekly RSI remained above 50 (highlighted); prices generally moved higher during this period.
In Dec 2021, RSI dipped below 50 and remained under that level in 2022, prices moved lower.
In 2023, weekly RSI is back above 50 and if it continues to stay above that level, prices should generally be higher
Since reaching a low of around $40 early this year, stock has been rebounding. Tested the $40 level couple of times. That level is likely to act as a strong support.
Additionally, since its IPO (2019) to Dec 2021, the weekly RSI remained above 50 (highlighted); prices generally moved higher during this period.
In Dec 2021, RSI dipped below 50 and remained under that level in 2022, prices moved lower.
In 2023, weekly RSI is back above 50 and if it continues to stay above that level, prices should generally be higher
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.