Hello Traders and Investors,
Sumo Logic (SUMO) has not been performing as expected so far, but technically it is still doing fine.
Unless SUMO breaks down losing the yellow support line there is a good chance that it overcomes the strong resistance at $22 (Target 1) and then shoots up aiming the 2nd Target at $25. However to keep the uptrend it will be decisive to see again a pick up in Volume, which I expect to happen as SUMO's fundamentals continue very strong. The only factor that could interfere would be a deteriorating overall Tech Market.
Sumo Logic (SUMO) has not been performing as expected so far, but technically it is still doing fine.
Unless SUMO breaks down losing the yellow support line there is a good chance that it overcomes the strong resistance at $22 (Target 1) and then shoots up aiming the 2nd Target at $25. However to keep the uptrend it will be decisive to see again a pick up in Volume, which I expect to happen as SUMO's fundamentals continue very strong. The only factor that could interfere would be a deteriorating overall Tech Market.