$SNXXB is up 29.6% in 24 hours, trading at 14.46 with $8M in volume.
Price has pushed above its 7-day high of 14.96 earlier today, now sitting just under it. The move puts it well above both the EMA20 (13.03) and EMA50 (11.86), while RSI(14) is at 78.
The desk's read: this is a strong move in a fearful market (F&G 29). A close above 14.96 would confirm continuation, but a pullback to retest the EMA20 at 13.03 is likely given the high RSI.
Would you buy a new high with RSI at 78?
$SNXXB
Price has pushed above its 7-day high of 14.96 earlier today, now sitting just under it. The move puts it well above both the EMA20 (13.03) and EMA50 (11.86), while RSI(14) is at 78.
The desk's read: this is a strong move in a fearful market (F&G 29). A close above 14.96 would confirm continuation, but a pullback to retest the EMA20 at 13.03 is likely given the high RSI.
Would you buy a new high with RSI at 78?
$SNXXB