The past several sessions have seen significant fear based selling as the C&H formation failed its handle. Unfortunate timing for the continuation pattern to be affected by the macro economic conditions. I would suspect that some of the supply that made it's way into the ask was from the 74c capital raise that took place late last year.
The bottom may have been found last session as we saw a green hammer on the daily with some bottom pickers licking their lips as the price dipped below the 66.5 support line. A great entry or top up for whomever managed to soak that supply.
Today's session should indicated whether much of the fearful sellers have left the building and whether they may regret or revel in their decision to drastically dump their holdings.
The bottom may have been found last session as we saw a green hammer on the daily with some bottom pickers licking their lips as the price dipped below the 66.5 support line. A great entry or top up for whomever managed to soak that supply.
Today's session should indicated whether much of the fearful sellers have left the building and whether they may regret or revel in their decision to drastically dump their holdings.