I opened a long position in this stock today for a possible long-term play to close the downward gap that happened last May 2022. As we all knew, the stock has gapped down after the company reported lower-than-expected earnings in the 2nd quarter of this year. Since then, the company's stock has been range trading between 140-ish to 180-ish levels.
As you can see in my chart above, the stock has re-tested a key resistance level at 180 and it has bounced back from a higher low ever since.
I placed my key support levels between 144-152 while my key resistance level is at 180
As you can see in my chart above, the stock has re-tested a key resistance level at 180 and it has bounced back from a higher low ever since.
I placed my key support levels between 144-152 while my key resistance level is at 180
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