From a chartist’s point of view, the stock price remains stuck in a symmetrical triangle pattern. The 50WMA started to flatten out, indicating a loss of momentum. Readers may want to consider the potential for opening Long positions above the support at 8.71. Only the upside breakout of the resistance threshold at 10.4 would validate a bullish signal. Target is set at 11.6. Alternatively, a break below 8.71 would open a path to see 7.6 (March low).
Source: GAIN Capital, TradingView
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