Update Daily Chart 1/29 - would like to see it hold support at 83.95. If not, support at 80 (0.5 Fib)seems tenuous. Lower support at 72.5 remains solid. sell cash secured puts $72 - $80 for income and a potential favorable entry price. RSI above 50 is neutral-positive with room for upside.
Ascending triangle forming, bias undetermined. MACD is neutral-positive with slight lean to the upside
Conclusion: Mixed. Right now it's "Stuck in the middle with you" amid general market and geopolitical uncertainties.
Upside: $103 - $140+ but has to break above resistance with volume. Support $80 - $60 and is strong at those levels.
Ascending triangle forming, bias undetermined. MACD is neutral-positive with slight lean to the upside
Conclusion: Mixed. Right now it's "Stuck in the middle with you" amid general market and geopolitical uncertainties.
Upside: $103 - $140+ but has to break above resistance with volume. Support $80 - $60 and is strong at those levels.
Trade active
Post "Liberation Day" look - weekly chart looks to be in a range between 40 and 100. The battleground now is to defend the 50 price level. The zombie apocalypse bottom fishing low around 30-35, and the unlikely pie in the blue sky high at 140. Overall market direction is gloomy right now and company is correlated to some degree to bitcoin, which can still be considered more help than not. Bottom line: we do not know what the new normal is going to be. Fairly significant overhead resistance has been established between 55-60. we'll have to slog through that first to get anywhere. Watch and wait for now. May the Fed be with you!
Note
my trade in this not active, I got stopped out in Feb. Trade closed: target reached
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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.