We covered this closely all week so I believe everyone is up to scratch on where we are here with the price action.
Perfect retest of the wedge breakout level and the 0.5 Fib at $23.61 to end the week, it happened quite quickly so the reaction caused some concerns, I care very little about that as long as support is held.
Even if the 0.5 Fib is not held, I will still be happy if the 0.618 Fib is held at $22.91 and I would expect the 50 Day MA to move up to this level.
A hold here above these levels and i'll add again......downgrades in this set up is a buy signal for me.
Federico Salerno
2024-06-23 20:29:28 +0000 UTC