Personally i think it might bounce on monday, off the strong weekly support before making new lows. Retest of the lower anchored VWAP, then go back down and retest weekly support once again. At the end of the day, it depends on the overall market sentiment, and upcoming earnings even though PC demand was revealed, so we know what to expect already heading forward.
360s area important area to look for
1st PT $33. 2nd PT $37. Once it breaks out these 2 resistances. It can fill the gap at $47. Considering that it has a 27% short float, it would not be surprising.
In my previous TA, i outlined the potential movement, so far its been looking good. Will it break 16.50 resistance and go to 20, or will it pull back to 14s area after it hits the resistance line?
Might be a perfect entry to buy in high 12s right on 14 SMA support, where I will be looking for a potential reversal signs from there.
If SPY breaks out the triangle tomorrow or Wednesday, I expect it to hit 292-296 this week.
Potential bull flag pattern on hourly chart