Explain the chart would you?
Why does it mean something for the price to fall to approximately what it was before the outcry?
Thanks for any real information.
“Explain the chart would you?
Why does it mean something for the price to fall to approximately what it was before the outcry?
Thanks for any real information.”
The outcry was in April. The price was around $66, with a price support hovering between $59 and $61.
The stock price broke through this price support on the chart and is now heading steadily downward.
Generally, when a stock breaks through a price support (downward), it triggers chart-watching people to sell, which is what is now happening. And will likely continue as more people sell off. And lower daily close after lower daily close continue the trend. The price is currently at $54 and change.
$45.16 (its price on 9/30/22) is the next price support low. If it goes below that they are in even deeper trouble.