Showing next levels of resistance, there were 2 active gap trades up, one at $168, and one at $174. We would expect the price to hit one of those levels based on that theory alone. However, earnings releases have been catipulting the stock price up, and the momentum did not slow down until the Dividend date.
Payout of dividend, regular fears like Corona Virus and parabolic graph on weekly, lead to what should be a normal profit taking. Price could stop at either $174, (short term Fib level of 23.6% or $168, another short term Fib level but on a longer playing field. The price correction should lead to an influx of buying, as this stock is considered a Strong buy from almost every analyst on the market, and a price target of $200-$212 will be met.
Short term slide, but a speedy recovery.
Payout of dividend, regular fears like Corona Virus and parabolic graph on weekly, lead to what should be a normal profit taking. Price could stop at either $174, (short term Fib level of 23.6% or $168, another short term Fib level but on a longer playing field. The price correction should lead to an influx of buying, as this stock is considered a Strong buy from almost every analyst on the market, and a price target of $200-$212 will be met.
Short term slide, but a speedy recovery.
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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.