Purely for my own use as I've been following this (as well as a few other stocks since COVID surged this market sector) for a couple months now.
I see 3 options ahead of us after the immediate rejection today near 3.30 mark.
1) A quick correction before another rise after another bounce off the support
2) A two week correction before a bounce off support to bigger and better levels
3) A breakdown in the market and a dip to new lows.
Personally, I feel option 1 holds as most likely just based on the sharpness of the rejection this morning.
Don't use as trading advice as this is merely for monitoring.
I see 3 options ahead of us after the immediate rejection today near 3.30 mark.
1) A quick correction before another rise after another bounce off the support
2) A two week correction before a bounce off support to bigger and better levels
3) A breakdown in the market and a dip to new lows.
Personally, I feel option 1 holds as most likely just based on the sharpness of the rejection this morning.
Don't use as trading advice as this is merely for monitoring.
