Arm Pulls BackArm Holdings rallied sharply last month, and now the AI chip stock has pulled back.
The first pattern on today’s chart is the advance from May 30 through June 30. ARM retraced half that move and is trying to bounce, which may confirm its upward direction.
Second, prices have retested their rising 21-day exponential moving average (EMA). The 8-day EMA is also above the 21-day EMA. Those signals may be consistent with short-term bullishness.
Third, the 50-day simple moving average (SMA) is nearing a potential “golden cross” above the 200-day SMA. That could reflect longer-term bullishness.
Finally, a four-session consolidation zone formed in late June between roughly $143 and $149. Will it now emerge as new support?
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