Jun. 25 at 7:34 PM
$WEN 1. The Selling Exhaustion is Real
Think about what the shorts tried to do this morning: they rejected it at \
$9.02, slammed it through two separate Limit Down halts, and drove it all the way to a low of \
$7.22. They were throwing everything they had at the stock to force a total collapse back into the \
$6.00\text{s}.
The fact that the price has stubbornly refused to drop below \
$7.40 for two straight hours tells us that the panic-selling has completely dried up. The shorts ran out of weak hands to shake out.
2. A Massive "Volume Shelf" Has Formed
The daily volume has now surged past an incredible 90 million shares. Because a massive chunk of those shares changed hands right in this \
$7.40 – \
$7.60 window, a giant technical floor has been built right where you are sitting.
In charting, a tight range with massive volume means a line in the sand has been drawn. Buyers have stepped in and completely absorbed the supply.
Fuck
$MCD $QSR $BYND
