1. Price Action
• Current Price: $73.68 (+0.66%).
• Resistance Level: Around $75.42 (recent high before rejection).
• Support Level: Around $70.80 (recent low, aligned with EMA10).
2. Moving Averages
• EMA5 ($72.35), EMA10 ($70.80), and EMA20 ($66.90):
• The price is trading above all these EMAs, indicating short-term bullish momentum.
• EMA5 is providing immediate support, suggesting buyers are still active in the market.
3. Volume
• Volume: Moderate at 73.86M, lower than the peak volume seen during the sharp rally to $80.91.
• Declining volume suggests a potential pause in momentum or consolidation.
4. MACD (Moving Average Convergence Divergence)
• MACD Line (5.47) is slightly below the Signal Line (5.63), with the histogram showing small negative bars.
• This indicates weakening bullish momentum, and the stock could consolidate or retrace slightly before another move higher.
5. RSI (Relative Strength Index)
• RSI1 (63.97), RSI2 (67.46), RSI3 (69.65):
• RSI levels are nearing overbought territory but still indicate moderate bullish momentum.
• If RSI approaches 70+, a short-term pullback may occur.
6. Key Observations
• The stock has retreated from its recent high of $80.91, showing resistance near $75.42.
• The short-term trend remains bullish as long as the price stays above the EMA10 ($70.80).
• Indicators suggest consolidation or slight retracement before the next move.
Short-Term Forecast (Next 3–5 Days)
Scenario 1: Bullish Continuation
• Trigger: Buyers defend $72–$73 levels, with renewed volume and momentum.
• Outcome: Breaks above $75.42 resistance, potentially testing $78–$80 levels.
• Probability: 40%.
Scenario 2: Consolidation
• Trigger: Lack of volume and market indecision.
• Outcome: Consolidates between $70.80 and $75.42.
• Probability: 50%.
Scenario 3: Bearish Pullback
• Trigger: Failure to hold $72.35 (EMA5) or broader market weakness.
• Outcome: Tests EMA10 ($70.80) or declines further to $68.
• Probability: 10%.
Key Levels to Watch
• Resistance: $75.42 (short-term) and $80.91 (major).
• Support: $72.35 (EMA5) and $70.80 (EMA10).
Trading Strategy
• For Bulls:
• Enter near $72–$73 with a target of $75–$78.
• Stop-loss: Below $70.80.
• For Bears:
• Consider shorting near $75 resistance if the price fails to break out, targeting $70.80.
• Stop-loss: Above $76.