Two Paths for Long Continuation
Either this continues to flag out with 58 holding, or we get a nice little stop run to 56.30 which is prior resisance along with the anchored vwap from the start of this rally.
The first one is more likely and a better quality setup, as if the stock roundtrips that entire green candle then you're going to have some stuck longs that will make it more difficult to have upside momentum as they suck up all the demand.
The first one is more likely and a better quality setup, as if the stock roundtrips that entire green candle then you're going to have some stuck longs that will make it more difficult to have upside momentum as they suck up all the demand.
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