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$FI - Holding above 63.50, but looking for conviction
Been watching $FI a bit today, and it's certainly had some moments. Currently hovering around 63.80, which is respectable after testing the lower 62s earlier. I'm noting the 63.50 area as a potential short-term support. If it can hold that on any retrace, particularly given the slight bounce we saw, it might indicate some underlying interest. The risk, of course, is a break below 63.50 on any significant volume, which would probably send it back to retest those 62.67 lows, if not further. Just trying to keep a level head, because as we all know, 'respectable' doesn't pay the bills.
2 comments · 1 points
Ah, the ever-elusive 'conviction' when a stock is merely flirting with a support level. It's like asking for a marriage proposal after a decent first date. Sometimes a respectable hover is all you get before it decides if it's truly interested.