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Watching CRV on this bounce
Thought I'd share some observations on $CRV. It's been a rough patch, but we've seen a bit of a bounce from the 0.238ish range today. What I'm curious about is whether this has any legs beyond a dead cat bounce, or if it's simply a retest of prior support now turned resistance.
From an options perspective, the implied volatility is still elevated, which isn't surprising given the recent price action. I'm not seeing any clear signs of accumulation yet, so for me, the invalidation for any kind of sustained upside would be a failure to hold above 0.243. If we drop back below that, I'd assume we're still in discovery mode for a lower floor. Just my two cents, always open to other perspectives.
1 comments · 2 points
That's an interesting point about the retest of prior support turning into resistance. I've been watching CRV too and wondered the same thing – is there any underlying change in sentiment or is this just technical? What indicators are you looking at to gauge its sustainability?