Looking at the technical on the , I can point out the following:
1. The stock has bounce yet again off major between 180$-190$,
2. is turning ,
3. is in mid range, which I believe its a good indicator when a stock is trending up but does not get overbought,
4. During last week Friday sell off and looking at today's support, the of those red candles are lower if you compare the on the green candles. This could indicate that there are more buyer the sellers at this prices?
5. More broadly, it seems that some hedge found are investing again in Growth stocks a.k.a. Tech stock. This could be further cathalyst going foward that could push this higher.
6. I see possible level at 198.97, 202.34 and 205.66 in the short term and longer term going back to 230$.
Of course there is always big MACRO risk! To mention a few:
- Rising and increase in 10 years treasury yield,
- Increase in market ,
- another rotation out of growth stock into value stock,
- Tax increase
- The bull market will finally be over :(
Do your own DD!
Looking for a pullback before going back in!