Honestly, I didn't quite understand this move, so I'll just lay out the data and let everyone figure it out together. $MUB rose 6.12% in a day, closing at 772.01 after climbing from 700.17 to around 775.47.
This kind of rally is the most nerve-racking: the pace of the climb from the lows makes it look like it's about to take off, but the trading volume of 23.0M isn't that high, which suggests there aren't actually that many people piling in. A fast rise also means a fast pullback.
If I had to choose, I'd lean more toward sitting on the sidelines. But if it can't break through 775.47, none of this matters; if it really does hold above that level, I'll consider this a rally with staying power.
Do you think this is just getting started, or is distribution already underway?
$MUB
#MUB #Market Analysis
This kind of rally is the most nerve-racking: the pace of the climb from the lows makes it look like it's about to take off, but the trading volume of 23.0M isn't that high, which suggests there aren't actually that many people piling in. A fast rise also means a fast pullback.
If I had to choose, I'd lean more toward sitting on the sidelines. But if it can't break through 775.47, none of this matters; if it really does hold above that level, I'll consider this a rally with staying power.
Do you think this is just getting started, or is distribution already underway?
$MUB
#MUB #Market Analysis