PODD attempting to break out of it's steep earnings selloff

23 ago 2023

PODD I published yesterday that this stock has a long history of steep selloffs immediately followed by steep rebounds upward with multiple selloffs rebounding off of this same price level within the past 3 years. This could potentially be another of those rebounds. Sell the news traders have driven the stock in a steep decline despite positive earnings, and it is showing signs of doing what it does best. That is to massively disappoint for a week, then massively reward dip buyers. The 20RSI on the 4 hour chart is attempting a crossover, and it just hopped above the line of resistance it has kept for this selloff. I'm keeping an eye on this for the next couple days, especially when the broader market is attempting to restore order from it's recent correction. I will likely enter if it successfully uses the resistance line as support.