UPST, is a new high performer getting too high for its range, but if we look in the chart, we can see that there is a first pullback, a second pullback and now we it looks like we are onto the third one, as we know, these kind of one time runners, pullback only three times at its best conditions, being the third the riskier one, this third pullback usually only bounces to the last resistance, which is the new high resistance.
We could also see that the next to last candle, was a red one closing in the middle with pretty high volume, and the last candle (which is the important) closed in the low end of it with no volume at all. This shows how buyers sold their shares, as for the moment we only have the momentum of the stock, not the supply acting.
If you were up to date, you could have entered in the first and second pullback if you have an aggressive approach, getting some great benefits.
But for the more conservatives, we can expect this stock to give the last positives profits of the week, as we expect it to form an AR (wyckoff) giving us a new support were we can enter.
Hope you have a great day.
We could also see that the next to last candle, was a red one closing in the middle with pretty high volume, and the last candle (which is the important) closed in the low end of it with no volume at all. This shows how buyers sold their shares, as for the moment we only have the momentum of the stock, not the supply acting.
If you were up to date, you could have entered in the first and second pullback if you have an aggressive approach, getting some great benefits.
But for the more conservatives, we can expect this stock to give the last positives profits of the week, as we expect it to form an AR (wyckoff) giving us a new support were we can enter.
Hope you have a great day.