MOVR ripped 34.4% in 24 hours, running from a 7-day low of 0.622 up to 0.888 before easing off. That's a 42.8% move off the bottom, and now price is sitting right on the EMA20 at 0.8375, about 6% below spot.
RSI is at 59, so this isn't an overheated chart despite the size of the move. Volume is steady rather than spiking, ratio just above average at 1.02.
This reads as a momentum pullback. Holding the 0.8375 EMA20 keeps the long case alive with the 7-day high near 1.17 as the level to watch above. A close below that EMA20 line is what breaks the setup and says the run is done for now.
$MOVR
RSI is at 59, so this isn't an overheated chart despite the size of the move. Volume is steady rather than spiking, ratio just above average at 1.02.
This reads as a momentum pullback. Holding the 0.8375 EMA20 keeps the long case alive with the 7-day high near 1.17 as the level to watch above. A close below that EMA20 line is what breaks the setup and says the run is done for now.
$MOVR