Momentum on the daily is moving favorably though the stock didn't hold the engulfing pattern. RSI corroborates the downward trend with most recent standing of "oversold" as it touches the 200 SMA. I'm looking at a bounce off the 200 SMA over the next couple weeks to hold the upward trajectory SO's held since May 2020.
If we can't hold the 200 SMA this week I'm looking for a downturn toward ~$57.00
I'll be looking to add to my position this week if things still look relatively strong Thursday.
If we can't hold the 200 SMA this week I'm looking for a downturn toward ~$57.00
I'll be looking to add to my position this week if things still look relatively strong Thursday.
Comment:
As described above, it bounced of the 200SMA and headed toward $65.00 to confirm SO continued trajectory upward.