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Continues to be stuck in a 4-month trading range. Testing the 7.00 resistance level again. If it breaks above 7, next resistance would be the midpoint at 7.25.
The Nasdaq Composite and the NDX are testing the 50sma today once again. This time may be different. Back on September 5th, a number of big tech names like AMZN and NFLX got hit pretty hard along with the nosebleed stocks like TNDM and SQ . Today they are getting hit again and others like recent IPO SFIX are getting hammered. The market is overdue for...
It appears that a channel is forming on the 60-minute chart (left). But on the daily chart (right), price action is consolidating into a potential bear flag formation. Also, the 9-ema which provided support during the August uptrend is now resistance.
4Hr Chart. Continuing to test upside resistance over the last 2 months. The short-term support trendline is being tested right now. If it breaks down, there is long-term support established below @ 1.151-1.154. I would only take action on a breakout or a test of long-term support zone.