Replies to post #714001 on Mr Cooper Group Inc (COOP)

[SamuraiProgrammer]

t1215s,

Looking at the daily chart for COOP, it seems like one of 3 things will happen...

1) Test the former high (Feb 2022) of 52.34
2) Test the former high (Jul 2023) of 55.13
3) Reverse and start back up short of either of those to prices.

IMO
#1 (if it holds) would be normal activity for an uptrending stock
#2 (if it holds) would be bullish
#3 would be extremely bullish

IMO, a stock has to test former highs before continuing the uptrend in a healthy manner. Like many here, I would love to see the stock climb straight up, but it would make it more vulnerable to a crash later.

Markets have to 'breathe'. IMO, this stock is merely taking a breath.

NO RECCOMENDATIONS - just talking chart theory.