$HYPE This head-and-shoulders top is taking shape, and the neckline looks like it may not hold much longer. The bearish setup is now clearly in place.
The next meaningful support is around $70, which coincides with the 99-period SMMA on the daily chart.
But based on the measured-move target, the actual destination is considerably lower.
So for now, keep an eye on the $70 level. If it breaks, it could trigger another fairly significant drop.
The next meaningful support is around $70, which coincides with the 99-period SMMA on the daily chart.
But based on the measured-move target, the actual destination is considerably lower.
So for now, keep an eye on the $70 level. If it breaks, it could trigger another fairly significant drop.
