In last few days(price was at 59$) the uptrend showed some signs of weakness with a divergence, but the bulls said nah nah and continued to push the price up. There is much frenzy going on with BNPL stocks which I think is propelling this stock to the moon. From the the stock is still in the momentum hence I would tell bears to wait and see no need to short atm. Do never stand in front of a high speed train. Lets analyze what the technical indicators say:
- price above 200MA and 50MA
- daily and weekly upward momentum
- uptrend line still intact
- still pointing up
- accelerator still positive
- very high
To me I think bulls are still in action till the time the indicators such as PSAR and start showing weakness signs which is not there yet. I will keep an eye on this stock and let you know when I think it is safe to go short.
Stay safe and have a profitable week ahead.
Don`t forget to smash the likes.