nice resistance call. although, a slight bullish divergence on RSI weakens your hypothesis.
MysteriousPersian
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@LeoFibonacci, very true. But it has also gone down while the major indexes have recovered. Now the indexes seem to be fatiguing.
RSI could also be skewed by the crazy gap down (lack of price action not allowing RSI to work its way down.
But i agree that the buying following that gap has shown to be relatively strong.
LeoFibonacci
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@TristanKhanizadeh, the smaller gap down on Dec 31st was also automatically rejected. wonder what is propping this up - they still have lots of cash for buybacks?