XYZ positive weekly volume this week is a first in its history! Even though it has never had this much 'green' volume in its weekly history, there is plenty of resistance to be overcome for this stock
$81-85 will be challenging as sellers all the way from 2022 will begin dumping shares, especially when uncertain market conditions will be pushing them to sell. If it consolidates at 85, plan for a move to 98, where there will be another wave of sellers from Dec 2024 and 2022.
XYZ moves will parallel the BTC market with a lag. When BTC breathes, XYZ will breathe. With a BTC bull, expect XYZ to run.
Rating is neutral as this needs to break through resistance prior to accumulation, not the other way around.
$81-85 will be challenging as sellers all the way from 2022 will begin dumping shares, especially when uncertain market conditions will be pushing them to sell. If it consolidates at 85, plan for a move to 98, where there will be another wave of sellers from Dec 2024 and 2022.
XYZ moves will parallel the BTC market with a lag. When BTC breathes, XYZ will breathe. With a BTC bull, expect XYZ to run.
Rating is neutral as this needs to break through resistance prior to accumulation, not the other way around.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.