Post by
Starsearcher80 on Aug 10, 2022 9:46am
VERY TIGHT CONSOLIDATION AND NEW LEG BREAK AND RUN
Wow, now that is looking like one VERY tight consolidation! Aout $30.30 is the inflection point. If the stock shows strength here, and moves beyond, the next resistance point looks to be about $34.00, and then a bit more identifiable resistance at $35.00 There is some generalized clutter along the way to each of these points, but nothing definable really.
It's tricky on days like this, where the overall market is strong. Either the consolidation happens quicker, as it was going to happen anyway, or with this kind of market, you can get a false reading, i.e., the consolidation was meant to take a little longer, and ultimately will.
I'm tending to lean on the high/tight consolidation that will lead to further substantial upside. This isn't just wishful thinking, but is more based on my belief that the stock continues to be vastly undervalued and is in the process of correcting itself to the new positive realities of the company. As noted previously, i fully expect this to take the stock up into the $54.00 range in the short term, which continues to represent a stunning gain over current levels.
In this light, the overall market today just provides an additional nice tailwind to something that was destined to happen anyway. Enjoy the continued moves up! There will be many more of these to come.