The Long Investor

$AFRM

Added 2024-05-09 18:10:50 +0000 UTC

$AFRM having a stronger day today after a volatile pump and dump yesterday after the earnings, always the concern when reporting before the market opens but as we can see, the structure stayed in place and it looks like we got another test of the 200 Day MA for the third time yesterday before bouncing today, it wasn't a perfect touch of the 200 Day MA but close enough to be regarded as a test as this has been an important support level for the last few weeks.

Flipping the 50 Day MA to support at $34.80 will be the next big test for the bulls, successfully flipping this level and this can move higher for Wave 5.

Bulls do not want to lose the 200 Day MA.