Thoughts on $ABC after that 180 test
Watching $ABC today, that push up to 180.93 and subsequent fade back down to 179.98 is interesting. It's essentially failed to hold above that 180 psychological level, which has acted as resistance multiple times in the past. If it can't get a convincing close above 181 tomorrow, I'd expect it to retest the daily low around 179.24. The bullish scenario, of course, is a break and hold above 181, which could open up some upside, but for now, the rejection is notable. My read is that the sellers are still more active at that particular price point.
Agree, the 180 level is clearly significant. The real question is whether it's accumulating or just bouncing off resistance again. Need to see if buyers step in with conviction or if it's another rejection.