NASDAQ:SPRT has been on an EPIC run. Started as a penny stock and just keeps squeezing and exploding higher. BUT this area that it was recently rejected at is a pretty historic one and I had to pull out the chart way back to the summer of 2011. If you look at where resistance points have been over the last TEN years, You'll see that this $15 area has certainly put up a fight. In both November of 2012 and December of 2013 SPRT was heavily rejected. On top of that, when I plotted a Fib retracement the 236 lines up almost IDENTICALLY with that dotted orange trend line. Now, are these proper levels? If you look in 2013 when it was rejected, SPRT retraced...where?...to the next fib level lower, then bounced. What's more, if you look at the 50 fib, you'll see that plotted on this chart it also has been an area of higher traffic. The big question now is will there be a sell-off thanks to profit taking? Will crypto hype continue fueling the move? Will SPRT make new highs? All good questions and better left answered after checking these levels and seeing what the crypto market does next.
"For the first quarter of the year, Support.com wasn’t much to write home about. However, that all changed toward the start of Q2. This coincided with the $35 million settlement with Office Depot in late March. However, this isn’t the biggest story of 2021 for SPRT stock. Support.com’s core business model is providing support solutions for home-based employees. But despite what you may think about this being a reopening trade, there’s more than meets the eye...A strong mix of “short-squeeze” speculation along with cryptocurrency-fueled action has helped spark a surge over the last few months. The company and Greenidge Generation Holdings plan to merge. This tie-up would create a company focused on bitcoin mining operations...When the initial details were announced, Greenidge said it expects the deal will make it the first publicly traded bitcoin mining company with a wholly-owned power plant. With the special meeting of shareholders set for September 10th, it’s clear that the market is paying close attention. Needless to say, SPRT stock has experienced a massive move in the stocks market this year."
Quote Source & Read More: 5 Penny Stocks That Turned $2,500 Into Over $29,000 In 2021 So Far
"For the first quarter of the year, Support.com wasn’t much to write home about. However, that all changed toward the start of Q2. This coincided with the $35 million settlement with Office Depot in late March. However, this isn’t the biggest story of 2021 for SPRT stock. Support.com’s core business model is providing support solutions for home-based employees. But despite what you may think about this being a reopening trade, there’s more than meets the eye...A strong mix of “short-squeeze” speculation along with cryptocurrency-fueled action has helped spark a surge over the last few months. The company and Greenidge Generation Holdings plan to merge. This tie-up would create a company focused on bitcoin mining operations...When the initial details were announced, Greenidge said it expects the deal will make it the first publicly traded bitcoin mining company with a wholly-owned power plant. With the special meeting of shareholders set for September 10th, it’s clear that the market is paying close attention. Needless to say, SPRT stock has experienced a massive move in the stocks market this year."
Quote Source & Read More: 5 Penny Stocks That Turned $2,500 Into Over $29,000 In 2021 So Far
