Etsy $ETSY pulled back last week, but it stayed above the previous weekly MA (now ex) resistance band it recently smashed through. The break, therefore, still holds strong.
Last week, Strategy (f.k.a. MicroStrategy) $MSTR tried, but it could not regain above its ex-support-now-resistance MA band.
…And when Arm Holdings $ARM broke below that hourly MA support stack, it marked a change in the short-term direction.
Daily MA support band is composed of 330/361-day EMAs, currently @ $128.54-130.78.
Last week, Western Digital $WDC came back to its daily and weekly MA support.
Last week’s market volatility did not impact Spotify Technology $SPOT. It continues to respects its weekly MA support cluster – 36/37/38-week SMAs – established in January 2023.
Aaaand- CUT.
PDD Holdings $PDD.
…So Gorilla Technology Group $GRRR bounced last week. But then, to make things interesting, it came back to its weekly MA support again.
Reset.
Same question for next week…
Impressive. A week after, and BigBear.ai Holdings $BBAI still respects the same hourly MA support cluster as a week ago. Stock ended the week right at support.
Next week – Bounce or break?
The break below its daily MA (now ex) support cluster marked the direction change for Lucid Group $LCID last week.
…Not a big scare; Zoom Communications $ZM stuck around the same price, still caught in between its converging weekly MA support and resistance bands.
Well, it did hold. Until Friday. Webull $BULL broke below its daily MA (now ex) support stack.
Resistance cluster is now composed of the 5/6/7-day SMAs.
Hopefully, seeing CarMax’s $KMX break of its hourly MA support cluster when it happened was useful to short-time traders.
Cal-Maine Foods $CALM closed the week above its daily MA support cluster (281/304/375-day EMAs).
Costco Wholesale $COST kept resecting its daily MA support cluster last week. Resistance is closing in.
On the daily, Opendoor Technologies $OPEN broke below the top 2 support stack lines, held by the third – the 32-day EMA.
On the weekly, though, price still respects the 7-week EMA support line.
DraftKings $DKNG gave it all back on Friday, but the weekly candle, which we’ve been following daily, closed above its weekly MA support stack.
Keeping price action on watch next week.
Ah, nice! ♥️ DraftKings $DKNG continues the bounce off its weekly MA support stack – the 162/163/174-week SMAs. Weird MA numbers, yes, but that’s what our algo found..
The weekly candle has 1 more day to go.
DraftKings $DKNG demonstrates today that it respects its weekly MA support stack (162/163/174-week SMAs). However, this is a weekly chart, and the candle is still breathing. Let’s check back at EOW.
DraftKings $DKNG reached $32.57, which is the top level of its 162/163/174-week SMAs support area on the weekly chart. Watch the price action at this level.
