$TSLAB 7 hit a new high today, with the current price at 388.13 and the previous high at 384.
After making a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then move up another level: the healthiest scenario
② Churn around the previous high: consolidate and wait for direction
③ Drop straight below the previous high and fail to reclaim it: a bull trap
It’s still above the previous high for now. Watch to see whether it follows ① or ②.
After making a new high, there are generally three possible moves:
① Pull back to the previous high without breaking below it, then move up another level: the healthiest scenario
② Churn around the previous high: consolidate and wait for direction
③ Drop straight below the previous high and fail to reclaim it: a bull trap
It’s still above the previous high for now. Watch to see whether it follows ① or ②.