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The stock has shown clear weakness recently, having declined by approximately 30% since the beginning of 2026, after trading around the 65–70 dollar range at the start of the year and currently trading around 45–48 dollars.
The sharp decline occurred following a breakdown of a significant support level around 60 dollars, a level that held multiple times over the past year and served as a key demand zone. This breakdown accelerated the negative momentum and led to a sharp move to new lows. In terms of price structure, the stock has returned to a price range not seen since 2023, with the 40$ area now acting as an important nearby support level. This is a zone that previously acted as support, and the market is now testing whether it can hold again.
In addition, one of the notable technical signals on the chart is the formation of a “Death Cross”, a situation where the 50 EMA crosses below the 200 SMA. This is considered a bearish signal and aligns with the current behavior of the stock, which is trading below both moving averages.
The key question now is whether the 40$ level will hold as support and lead to a potential upside correction, or whether the stock will continue its downward trend to lower levels? Time will tell...
Important notice: Colmex Pro Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 123/10. Trading in financial instruments (including stocks) and/or the use of leverage involves a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results.
The stock has shown clear weakness recently, having declined by approximately 30% since the beginning of 2026, after trading around the 65–70 dollar range at the start of the year and currently trading around 45–48 dollars.
The sharp decline occurred following a breakdown of a significant support level around 60 dollars, a level that held multiple times over the past year and served as a key demand zone. This breakdown accelerated the negative momentum and led to a sharp move to new lows. In terms of price structure, the stock has returned to a price range not seen since 2023, with the 40$ area now acting as an important nearby support level. This is a zone that previously acted as support, and the market is now testing whether it can hold again.
In addition, one of the notable technical signals on the chart is the formation of a “Death Cross”, a situation where the 50 EMA crosses below the 200 SMA. This is considered a bearish signal and aligns with the current behavior of the stock, which is trading below both moving averages.
The key question now is whether the 40$ level will hold as support and lead to a potential upside correction, or whether the stock will continue its downward trend to lower levels? Time will tell...
Important notice: Colmex Pro Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 123/10. Trading in financial instruments (including stocks) and/or the use of leverage involves a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results.
Colmex Pro Ltd
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Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.