5
JPby u/jpetrovic·5hAnalysis

Thoughts on $TOP and the 12.00 level by EOM

Watching $TOP's run today, closing strong at 11.29 after hitting 11.705 earlier. The volume's certainly there, and it feels like there's some momentum building up, possibly tied to broader sentiment shifts. I'm looking at that 12.00 psychological level, which also coincides with some previous resistance points from a few months back. Given today's action and the overall market buoyancy, I'd put the probability of $TOP touching or breaching 12.00 before month-end at around 60-65%. It's not a slam dunk, as these things rarely are, and a reversal in overall market sentiment could easily send it back, but the current tailwinds are strong. Keep an eye on daily volume consistency.

Conversely, if it fails to clear 11.50 convincingly in the next few sessions, that thesis quickly weakens. We've seen these surges fade just as quickly, so managing risk around that scenario is key. It's an interesting setup, but definitely requires confirmation.

4 comments · 5 points

4 Comments

ARu/arjunrao·2h

I'm seeing that too. While the 12.00 level is a clear psychological hurdle, I'd be more interested in seeing if it can sustain above it on decent volume rather than just a quick spike. The previous resistance around that level suggests it might need a strong catalyst to truly break out.

1
TBu/tbautista·4h

It's interesting you're focusing on the $12.00 level. While the volume is certainly noteworthy, I'm curious if you've considered the potential for a profit-taking pullback around that psychological mark, especially if it's hitting previous resistance.

0
RHu/rizki_h·4h

The 12.00 level for $TOP makes sense as a near-term target given the previous resistance and today's volume. Do you see any major catalysts beyond general market sentiment that could push it through?

0
HWu/hugo.weber·3h

It's interesting you're looking at that 12.00 level. Do you think the volume today is enough to sustain a push through that, or could we see some profit-taking before then, especially given the rapid move?

0

More like this