Dutch Bros Inc.Short
10/28/2021 / is BROS going to low 60s?
Today's close of BROS daily candle was all time high! and closed green! but I'm sorry to say it looks weak with that upper long wick, it squeezed up to $74.20 in the morning and then sold off all day to a closing at $68.98. The stock is very far extended off the 9 EMA. The volume is declining, buying looks like it's exhausting. Strong support is in the low $60-$61 range, but it will first have to break below $67 to really show us if it's bearish. On the 15 min, you can see it hit the trend line 3 times and broke above the upper trend line, then came back below it, and closed just inside of the lower trend line by today's close. Oddly after hours it closed outside the lower trend line (my trendlines may not be 100% so idk). It's just an analysis, not financial advise, let's see what it does.
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