0.618 fib level has been tested repeatedly, and holds for now despite continuing to trade below MA100 and MA200. Selling pressure apparent from CMF and acc/dist. Most recent earnings tending toward pre-pandy levels, so perhaps overvaluation is becoming more difficult to ignore. Though I could reasonably see MPWR bouncing again within the current sideways channel, I tend to favor a continuation of the downtrend, if only for the complete dearth of bullish signatures at the moment.
Comment:
Apparent rejection of MA100 at the 0.786 Fib level.