Price: 739.63$
๐ Previous close: 741.245$ (+11.33%)
๐ Last high: 753$
MA7: 742.07$
MA25: 736.50$
MA99: 693.33$
๐ Technical analysis
The stock made a very strong upward move, then entered a consolidation/sideways correction phase near 740$.
Having the price above MA25 and MA99 maintains the uptrend on this timeframe, but the price falling below MA7 right now indicates that short-term momentum has started to cool down.
Resistances:
742โ745$
753$
755โ756$
Breakout of 753$ with strong trading volume may open the door for the continuation of the rally.
Supports:
736โ737$ โ Important support, roughly aligned with MA25
724โ725$ โ Next support
709$ approximately โ Deeper support
โ ๏ธ Key point: Trading volume was high during the rally, then started to decline. Therefore, a breakout of 753$ without a clear increase in volume may be a weak breakout.
๐ง Summary
The overall trend on the chart is still bullish, but the stock is in a cooling-off phase after the strong rise.
Technically, the 736โ737$ area is important to maintain the bullish structure, while 753$ is the main zone the price needs to surpass to show momentum continuation.
๐ Previous close: 741.245$ (+11.33%)
๐ Last high: 753$
MA7: 742.07$
MA25: 736.50$
MA99: 693.33$
๐ Technical analysis
The stock made a very strong upward move, then entered a consolidation/sideways correction phase near 740$.
Having the price above MA25 and MA99 maintains the uptrend on this timeframe, but the price falling below MA7 right now indicates that short-term momentum has started to cool down.
Resistances:
742โ745$
753$
755โ756$
Breakout of 753$ with strong trading volume may open the door for the continuation of the rally.
Supports:
736โ737$ โ Important support, roughly aligned with MA25
724โ725$ โ Next support
709$ approximately โ Deeper support
โ ๏ธ Key point: Trading volume was high during the rally, then started to decline. Therefore, a breakout of 753$ without a clear increase in volume may be a weak breakout.
๐ง Summary
The overall trend on the chart is still bullish, but the stock is in a cooling-off phase after the strong rise.
Technically, the 736โ737$ area is important to maintain the bullish structure, while 753$ is the main zone the price needs to surpass to show momentum continuation.
