Jun. 28 at 12:24 AM
$STEM
For the sake of not trying to make it seem like I have some ground breaking thought … I’m just going to throw out what I’m piecing together so far … and let everyone pick it apart
1) Price Action Out of the gate
2) Nature of this short attack
In terms of #1, Stem continues to be victim to opening price action vs sustained price action. As we saw 2x this week … too high/too fast and the algos kick-in for the sell off.
What was different about today is that there was a 2nd wave of buyers that pushed the price back to
$7.30s.
So as old timers should remember, don’t get too far ahead of ourselves because the gradual increases in price action (a few oscillations between buyers-sellers) tends to work out best for Stem over not just that day of trading, but carries over for a few days.
2nd, as @MrPriceAction highlighted … there are a number of shares now trapped between
$7.41 and Mondays high (
$9.70s). As MPA stated, that resistance is strong which means there needs to be …
