57$ looks like it's holding up before close and there has been no agressive sell off from these levels. I'm wondering if this might be the turning point for this stock before it goes higher. Looks interesting from an elliot wave perspective and there could be some fundamental catalysts for this stock with the corona virus headlines. I read an article about virus...
To me this action looks like the calm before the storm. A space without volatility where price is not going down lower to previous low levels. As price is coming from a previous downtrend into a level with lots of support, this gets me to believe that this breakout would be on the upside.
The CCI has never been overbought for 8 days in a row this year. Now the candlesticks show momentum loss. Percentage gains without real accumulation is never a good sign because when it starts swinging in the other direction it often falls hard. I wouldn't be surprised if we went down to 256 before SPY started making new all time highs again. This could take some...
