I really love their services and can see a lot of room for growth with cloud and real-time communications and security and IoT-related businesses. The chart was also acting very predictable from July, having 5 breakouts on the same area around $83 where we sit now! All started from the first breakout in early July after some bullish accumulation.
It dropped multiple times to 80-83 area (VPOC) with so much bullish accumulation, confirmed by 5 times b/o from that level (indicating institutional investors are buying more to help breakout there). Now we sit at the same level. the last time we broke it lower was with the TikTok surprise and panic sell, which may not happen this time (no surprise to investors now).
Last ER, we had a drop for 3 days and then a run to a much higher level. And why I am long now?
Trade safe!
It dropped multiple times to 80-83 area (VPOC) with so much bullish accumulation, confirmed by 5 times b/o from that level (indicating institutional investors are buying more to help breakout there). Now we sit at the same level. the last time we broke it lower was with the TikTok surprise and panic sell, which may not happen this time (no surprise to investors now).
Last ER, we had a drop for 3 days and then a run to a much higher level. And why I am long now?
- I love their service long-term, so clearly bullish on them.
- touching strong support area now which has a history of 5 breakouts!
- touching 200ma on daily as potential support, making this 80-83 box now even stronger support
- 80 psychological support level
- very good risk/reward at the moment. Risk levels: 80, 72, 70, 65, 60. Reward levels: 90, 100, 107, 120.
Trade safe!