After a prolonged downtrend, the stock has been consolidating within a falling wedge structure, with a key decision zone clearly defined between $7.60 and $8.35. Yesterday we saw a breakout attempt accompanied by a significant volume surge **29.41M vs. a 30-day average of 3.78M, nearly 8x**. However, there is still no confirmed daily close above resistance.
As long as price holds above the zone, momentum supports the bullish scenario with Fibonacci resistance levels at $9.54 (0.236) and $12.14 (0.382). A daily close above $8.35 would strengthen the case for continuation, while a failure and close back below $8.00 would signal a return to consolidation or renewed bearish pressure.
⚠️ Not financial advice.
As long as price holds above the zone, momentum supports the bullish scenario with Fibonacci resistance levels at $9.54 (0.236) and $12.14 (0.382). A daily close above $8.35 would strengthen the case for continuation, while a failure and close back below $8.00 would signal a return to consolidation or renewed bearish pressure.
⚠️ Not financial advice.
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Disclaimer
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.