The chart of NuScale Power Corporation (SMR) on the 1-hour timeframe shows that the stock is currently consolidating near a strong support zone around $14.3–14.6 after a long and aggressive downtrend. The sharp selling pressure that previously dominated the price action has clearly weakened, and the market is now moving sideways, which often indicates accumulation rather than continuation of the decline.
The RSI remains in oversold territory, fluctuating below the 30 level, suggesting that downside momentum is exhausted and the probability of a short-term rebound is increasing. At the same time, price volatility has decreased, which typically precedes a stronger directional move. The compression between short- and medium-term moving averages further supports the idea that the market is preparing for a breakout.
From a technical perspective, the current structure favors a relief rally, with the nearest significant resistance zone located around $21–22. A move toward this level would represent a natural retracement within the broader trend and aligns with previous consolidation areas. As long as the price holds above the current support, the bullish scenario toward $22 remains technically justified in the near term.
Potential TP: 22 USD
This analysis is for educational and informational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Financial markets involve risk, and past performance is not indicative of future results. Always do your own research and consider consulting a licensed financial advisor.
The RSI remains in oversold territory, fluctuating below the 30 level, suggesting that downside momentum is exhausted and the probability of a short-term rebound is increasing. At the same time, price volatility has decreased, which typically precedes a stronger directional move. The compression between short- and medium-term moving averages further supports the idea that the market is preparing for a breakout.
From a technical perspective, the current structure favors a relief rally, with the nearest significant resistance zone located around $21–22. A move toward this level would represent a natural retracement within the broader trend and aligns with previous consolidation areas. As long as the price holds above the current support, the bullish scenario toward $22 remains technically justified in the near term.
Potential TP: 22 USD
This analysis is for educational and informational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Financial markets involve risk, and past performance is not indicative of future results. Always do your own research and consider consulting a licensed financial advisor.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.