SPAC PLAY.
Quick observations
Top chart - 2h - Notice the 200ma is acting as a level of support in multiple places. But now we see the quicker EMAs coming together and trending down. We appear to be headed towards the dreaded death cross (when a slower moving average crosses above a faster moving average) and honestly that wouldn't surprise me if it happened.
SPACs can get the volume, especially this stock. And lemme tell you, that's what it needs.
$12.30 is our support on decent volume. But again its (basically) right on the 200ma. That should push this up towards the first resistance, $12.91.
Bottom chart - daily. Not much to see here. All the volume of course has come over the last few weeks since it is receiving pages and pages of tweets and articles and likes and comments. For this to have any shot it's gotta maintain the hype.
50ema is trending up which is a good sign.
Just like all the other weeks, this is on my list. All SPAC's are pretty much on my list at all times and I am ready to go at a moments notice if needed.
Quick observations
Top chart - 2h - Notice the 200ma is acting as a level of support in multiple places. But now we see the quicker EMAs coming together and trending down. We appear to be headed towards the dreaded death cross (when a slower moving average crosses above a faster moving average) and honestly that wouldn't surprise me if it happened.
SPACs can get the volume, especially this stock. And lemme tell you, that's what it needs.
$12.30 is our support on decent volume. But again its (basically) right on the 200ma. That should push this up towards the first resistance, $12.91.
Bottom chart - daily. Not much to see here. All the volume of course has come over the last few weeks since it is receiving pages and pages of tweets and articles and likes and comments. For this to have any shot it's gotta maintain the hype.
50ema is trending up which is a good sign.
Just like all the other weeks, this is on my list. All SPAC's are pretty much on my list at all times and I am ready to go at a moments notice if needed.