First off, I'd like to apologize about my previous post on pinterest (See link). At the time that I posted that chart, i didn't fully comprehend the sell off that ensued these covid darlings. But like the old saying goes "Once u know better, do better"..
If you go to your daily chart you'll see that there was a gap July 2020 at 25$ that needs to be filled.
Also on the weekly you can see the obvious horizontal support at 25$.
last week was a dead cat rally that fizzled at the channel reentry. That bounce gave the BBands time to catch up...
I can't hammer in to you guys enough that this bubble 2020/2021 tech bubble has popped. For me being mostly a day trader drops in these stocks doesnt affect my bottom line. Some of you are actual investors who own stock in these companies and will now become bag holders for possibly the next 2-3yrs. Look at all the retailers who bought into EV stocks this year , 80% of those stocks have losses over 50% of their value; Now those type of losses has reached the low end tech stocks. The fat lady is singing
If you go to your daily chart you'll see that there was a gap July 2020 at 25$ that needs to be filled.
Also on the weekly you can see the obvious horizontal support at 25$.
last week was a dead cat rally that fizzled at the channel reentry. That bounce gave the BBands time to catch up...
I can't hammer in to you guys enough that this bubble 2020/2021 tech bubble has popped. For me being mostly a day trader drops in these stocks doesnt affect my bottom line. Some of you are actual investors who own stock in these companies and will now become bag holders for possibly the next 2-3yrs. Look at all the retailers who bought into EV stocks this year , 80% of those stocks have losses over 50% of their value; Now those type of losses has reached the low end tech stocks. The fat lady is singing
