Clover Health Will Show A Technical Growth In Channel To $9.92
After a false breakout due to a correction in the broader market, $CLOV has re-entered the falling channel it has broken out of and closed within it.
From this area, I expect growth towards the resistance zone around $9.92 to $10.00.
However, do note that this zone of resistance that we are heading for is a very strong area of resistance.
In this area, we see an intersection of:
1. Dynamic resistance created by the upper parallel line of the falling channel
2. Fibonacci resistance and Horizontal resistance
3. Former $10 SPAC price floor which acts as a very strong psychological resistance
Regardless, I expect a move towards it first. Would have to see how the market reacts to this level first before deciding on our next course of action.
This is not an investment or trading advice so please do your own due diligence!
Support this idea with likes and share your thoughts below.
From this area, I expect growth towards the resistance zone around $9.92 to $10.00.
However, do note that this zone of resistance that we are heading for is a very strong area of resistance.
In this area, we see an intersection of:
1. Dynamic resistance created by the upper parallel line of the falling channel
2. Fibonacci resistance and Horizontal resistance
3. Former $10 SPAC price floor which acts as a very strong psychological resistance
Regardless, I expect a move towards it first. Would have to see how the market reacts to this level first before deciding on our next course of action.
This is not an investment or trading advice so please do your own due diligence!
Support this idea with likes and share your thoughts below.