Rumble Inc (RUM)

[Imperial Whazoo]

I have to say I'd forgotten that I'd gotten no reply LOL.

I don't see the downtrend you point to. I see that, ever since the 19% gains were reported this puppy has been in an up trend. As to whether 12 will be reached? Maybe, but if so, its not going to hold there because this chart is not the chart of a down trending stock.

Not in a down trend, IMHO:
What happened was that the Rogan thing caused a distortion. When he dissed the idea, it took back a lot of that gain. But it still was an improving chart. The chart post-Rogan did not end up worse that it was pre-Rogan

The post-Rogan chart ended up still generally trending up. Take out the Rogan spike and you will see what I mean.

Also in support of the idea that this stock is not trending down:
1) Higher lows even on today's pullback:
The wick on the big volume down day ( 2/9 ) was a low of 13.32. Even at the worst point of today's down move the wick only got to a low of 13.55

2) The 786 retrace of the Fib is right in the middle of the 2/7 gap:
Typically, gaps get fully filled. So, if the 786 Fib line were to be support, a pullback into the gap would only partially fill the gap. Thats just not the way Fib retrace support lines work. If price goes to the 786 line for support, it will be in the gap, which means that the 786 will end up getting taken out because gaps don't just half-fill. Normal gaps get fully filled. So, the 786 is not likely to act as support because it is smack dab in the middle of the gap.

3) Today, it pulled back to the 200 day MA, rejected it, & closed well above it.... at 14.13:
Put a 200 day MA on your daily chart. Guess where the wick of today's down candle reached? It reached the 200 day MA. And then, it rejected it.

What could go bad?
1.) War
2.) Unexpected bad news
3.) A ridiculous over-reaction to Truth Social getting delayed

One thing worries me is that we still have no explanation of why today's mid day flash crash happened. Maybe, it being options closing day, there were a lot of calls out there and someone, wanting those shares, professionally crashed the price to force those to cover & the idea was to swoop in and get the shares from weak hands. Who knows.

Anyway, you might be right that it will decline to 12 on Tuesday out of an over reaction to Truth Media delay news or war in Ukraine, but after that, the decks will be cleared to continue up over what's left of the month. And if March 3 or 4 they report another fabulous growth in users for February.... Katy bar the door!!

I mean.... this puppy is smack dab in the middle of a social revolution about people perceiving threats to their freedom & liberty.

Just my crystal ball gazing. Not investment advice. Do your own DD.

Peace.

IW