XKEM back to .059+- support level?
Possibly with such a short term rocket in pps. Volume is half of yesterdays and although it is a good stock, it can pause and slightly retrace based on sell off of short term profit traders alone. This price has the pending news built in somewhat. The hype over the last few days of the 7/8 release is what has allowed the pps to rise so quickly to begin with. Commonsense is not bashing. To have such a rise so fast is difficult to sustain. Yes, with its potential it likely may continue, but IMHO, after it retraces back toward its support @ .059+-. I agree with BB, difficult to sustain with such high RSI.With RSI @ 92%, how much more room then does it have to continue? And 7/8 is still +- two weeks away.
That's why many times preferably a continued slow rise in pps is wanted to sustain price uptrends for long periods of time without large retracements.
As always, my opinion only, do your own due diligence. This is not a recommendation to buy or sell.
Best Regards
