About the trade: the stock went from $44 (when it was published here) to $127 in just 4 months!
It can be seen that after reaching a peak, it retraced exactly to Fibonacci 50.
So what happened yesterday? The stock reached a peak and broke the resistance point!
What's next? Option 1: the stock will drop to test the resistance points, and these will become support points; in this case, it is expected to continue upwards.
Option 2: the stock will drop back; in this case, it's a false breakout, and then we would want to see the stock price return to around $115 (Fibonacci 50).
Option 3: the stock will continue to rise without testing support.
Note: option 1, in our opinion, has the highest probability.
It can be observed in the MACD indicator that the fast average crosses the slow average upwards, giving us a positive signal.
In addition, we use 2 unique indicators in the FXG software: AD, a unique indicator that points to smart money entering (green) or smart money exiting (purple) the stock.
Super Swing: this indicator strengthens our indication for positive momentum.
Nothing stated herein constitutes a recommendation to act!