NASDAQ:GNUS testing the 200DMA right now and could be an important level to watch. Moreover, look at the fib retracement from the last "lowest-low" and the fib levels fall into place in a way. For instance, the 786level has been a key level for GNUS over the last 9 months. After retracing, testing, and bouncing off of that, will the trend continue? The 200DMA will likely be the judge of that in the short term.
"While fears remain thanks to news from a Pelosi staffer catching COVID, the larger concerns from Monday seem to have subsided. In the same light, many reopening stocks have gained more attention. Genius Brands has built a suite of entertainment brands over the last few years. The company recently announced that its “Sant Lee’s Superhero Kindergarten” exceeded 40 million views on Genius’ Kartoon Channel! That’s just from 11 episodes of season one currently available. There are 15 more episodes set to debut this year, according to the company. Right now, Kartoon Channel! is available on multiple platforms. These include Comcast, DISH, Sling TV, Amazon Prime, Apple TV, Roku, and many smart TVs. GNUS is also no stranger to volatile moves. Considering that the penny stock has bounced back to test a major technical level (its 200-Day moving average), it will be interesting to see if the overall market’s momentum can continue this bullishness or not. Read More On Genius."
Where do you think this stock is going, I see a cup and handle, with the Handle forming RN as the stock buys back up to the 200DMA, before a sell-off back to 1.50, The Gravestone Doji Pattern just formed for at the 4 hour, The Evening Doji Star Pattern on the daily, may indicate the stock s going back down, I would love to hear your thoughts.
PennyStocks101
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@Kwadwoial, Right now, low volume test of the 200DMA is a bit weak in my opinion, for it to establish itself. Anyone long would probably be looking for a scenario where the 200 becomes a true support with a high-volume push to get it there. For now, treading water.