This stock has moved strongly since the bottom in November and has been able to pattern out some of the speculation with stairsteps to keep the run moving upward beyond the resistance level of its range trend.
Some of this movement upward is ETF developers building more ETF units for certain industries and corporations.
Profit-taking is likely soon for this swing trade as it nears the long-term resistance at the 2021 highs. However, there is now support from the range of the August highs.
Martha Stokes, CMT
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www.TechniTrader.Courses
Learn how to use the technical patterns of each market participant for better trade planning.