The white line as support was on my chart from an earlier post. This line became resistance when stock closed below it, and the recent buying rally brought price up to resistance line. Reminder - this is a weekly chart - you can trade on a smaller timeframe. On Monday the stock opened below the previous week's green candle body (below last week's open) which is very bearish. Note - take partial profits along the way. There could be choppy price action instead of a direct move lower.
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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.