On the upper resistance line
Updated
Because of the recent strong growth, the price looks like to wait to break the new high.
But, if we see the longtime moving, EXAS tends to growth below a resistance line.
Even in its best time 2017, the upper resistance worked well.
At that period, the lower resistance line seems to be 50MA.
However, even if we neglect the last large breaking, the lower resistance is a different line well below the 200MA.
When it touches those resistance lines, it could be the time to gain benefit from its strong growth.
Of course, it is possible to short until then if you want.
The analyst expectation of the price is still about 12 percent higher than the current one.
But, if we see the longtime moving, EXAS tends to growth below a resistance line.
Even in its best time 2017, the upper resistance worked well.
At that period, the lower resistance line seems to be 50MA.
However, even if we neglect the last large breaking, the lower resistance is a different line well below the 200MA.
When it touches those resistance lines, it could be the time to gain benefit from its strong growth.
Of course, it is possible to short until then if you want.
The analyst expectation of the price is still about 12 percent higher than the current one.
Note
Following SPX, EXAS also start to fall somehow. At least, it will touch the 50SMA. I think it could be possible to cross the 200 SMA.
If SPX is not stopped to fall, it can go the level of Xmass.
It goes as I expect, but I have no position nevertheless lost some money with other positions.
I am stupid.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.