Topic Statement:
Persistent has seen a roller coaster price action this year and is now stabilizing near key technical and psychological support zones.
Key Points:
1. The stock is taking support at the 38.2% Fibonacci retracement level at 4951, a level it continues to hold
2. This support zone aligns with the barrier of 5000, reducing the likelihood of a breakdown
3. The price is also very close to a long-term trendline, adding structural strength to the current support
4. Currently trading below the 50-day EMA, the stock offers a strong investment opportunity at these levels based on past behavior
Persistent has seen a roller coaster price action this year and is now stabilizing near key technical and psychological support zones.
Key Points:
1. The stock is taking support at the 38.2% Fibonacci retracement level at 4951, a level it continues to hold
2. This support zone aligns with the barrier of 5000, reducing the likelihood of a breakdown
3. The price is also very close to a long-term trendline, adding structural strength to the current support
4. Currently trading below the 50-day EMA, the stock offers a strong investment opportunity at these levels based on past behavior
Disclaimer
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.
Disclaimer
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.