Honestly, it looks like an accumulation cycle.
I know that enough people have thrown that term around over the years that it has probably rings a little hollow. But from my perspective, someone is certainly trying to squash it from running. But they are also more than happy to lend buy support any time they get someone to bail.
From a chart perspective, we're fine. I'd like to stay on the positive side of 0.40, the 50 RSI and above the 30, 50 and 200 DMAs. As it stands now, the chart has reset enough to get this stock to run 50%+ before stepping into overbought territory again. I hope that's the plan.
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