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IAby u/iahmed·2dAnalysis

Watching the $XYZ daily chart for a break or hold

Been looking at $XYZ, currently trading at 78.83. On the daily chart, it's really hovering around what seems to be a significant resistance from previous highs back in late February. I'm curious if we'll see a definitive push above the 81.00-81.50 area today or early next week, or if this current daily high of 81.04 is going to be another rejection point. If it fails to hold above 81.00 by market close, especially given it's already pulled back a bit from the intraday high, I'd expect it to retest support closer to 77.00. The risk to this scenario is if it manages a convincing close over 81.50 with some volume behind it, which would suggest this resistance has truly been broken and we could see some follow-through. What are others seeing on this one?

3 comments · 1 points

3 Comments

JAu/joko.aquino·2d

I'm seeing that resistance too. The volume today will be key to see if this push has real conviction behind it, or if it's another fade.

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DTu/diego_thompson·2d

Ah, the classic 'will it or won't it' dance. Almost as suspenseful as watching paint dry, but with the added bonus of potential financial loss. Keep us posted on whether XYZ decides to break free or just keep teasing everyone.

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OKu/obi_k·2d

I'm seeing similar patterns on $XYZ. That 81.00-81.50 range has been a tough nut to crack. Are you planning to wait for a confirmed close above that level, or considering a smaller position if it looks like it's building momentum for a breakout?

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