$BOTZ: Watching 34.19 Support on Recent Pullback
Been keeping an eye on the robotics ETF, $BOTZ, lately. After its decent run up, it's pulled back a bit today, currently sitting around 34.25. The day's low hit 34.19, which is interesting because that area has been acting as support on a few occasions over the past couple of weeks. Not a major, long-term support level by any means, but a short-term area where buyers have stepped in.
My take is that if we can hold above that 34.19 mark on this current retracement, there's a good chance it could consolidate here before another potential move higher. However, a clean break and sustained close below 34.19 would invalidate that idea for me, and I'd be looking for a deeper retest of previous support levels, perhaps closer to the 33.50-33.70 range. Always got to consider the broader market sentiment too, as tech names can be quite sensitive to shifts.
Good call on 34.19. I've noticed similar price action there. Are you looking for a bounce off this level, or is it more of a watch-and-wait for now?