This is one of those covid plays and we can see that this company is in the middle of a pull back meaning we should get ready to buy the dip. Since it's a covid play im not entirely certain 2.05 will break but if it does the box should be a great spot to buy for the following technical reasons.
1) trendline
2) volume node area
3) 200 4hr ema
4)0.5 fib
However with it's recent PR on fox business I suspect more buyers will come in before we can even reach there making 2.05 the likely price as that was resistance that will become support and it happens to be where the .382 is. If there is some bullish divergence on that area I will enter there.
video.foxbusiness.com/v/6201838860001/
1) trendline
2) volume node area
3) 200 4hr ema
4)0.5 fib
However with it's recent PR on fox business I suspect more buyers will come in before we can even reach there making 2.05 the likely price as that was resistance that will become support and it happens to be where the .382 is. If there is some bullish divergence on that area I will enter there.
video.foxbusiness.com/v/6201838860001/
Comment:
Some bullish divergence on the 200 daily ema, good time to load up imo
