Today’s session was wild across the board. Just after midday, nearly every major index and Bitcoin dropped at the exact same time — a clear sign of coordinated selling, likely algo-driven or institutional. SPY, QQQ, VOO, and even high-conviction names like TSLA and AAPL all turned red within minute.
FED RATE ANNOUNCEMENT STRIKES AGAIN.
Amid all that pressure, NEGG didn’t just survive — it held its ground and closed strong at $44.97, marking a monthly gain of $28.48 and maintaining its steep uptrend from earlier in July.
What stands out:
- That market-wide dip was sharp and synchronized — a liquidity event or deliberate shakeout.
- NEGG dipped briefly but found support fast and never broke structure.
- RSI is climbing again but still below the danger zone, giving this room to run.
- Bollinger Bands are widening — volatility is here, but so is the strength.
- Buyers continue stacking bids around $43–$44.50, while a major sell wall sits at $48.00 (3,860 shares), which now becomes the key level to break.
This kind of price action — resilience in the face of broader selloffs — is exactly what a real squeeze setup looks like. The float is tight, the interest is high, and the resistance levels are clearly defined.
If that $48 wall goes, we’re likely looking at another leg up with panic cover potential. Shorts had their window to push it lower today — and they failed.
We close the day still in breakout territory. Let’s see what tomorrow brings.
No comments:
Post a Comment