In little more than 4 months, the market capitalization of the technology company has experienced a sharp decline of more than 45 percentage points.
In little more than 4 months, the market capitalization of the technology company has experienced a sharp decline of more than 45 percentage points. This has led it to seek support at $180, the old trend resistance left behind in the middle of last year. The loss of this support could extend its fall to $150, a level that coincides with its next support point. A weekly close below this reference would leave the way open to reach $135 and $108-105 dollars. Above, $242.40 is the benchmark to beat. Its overcoming would cancel its bearish breakout gap marked at the end of November, a scenario likely to attack $286, although an extension of the upward movement and an attempt to cancel its next bearish breakout gap from late August at $340 would not be ruled out at all.
Resistances: $200, $242, $270, $286, $300, $340.
Supports: $180, $150, $135, $108, $100.
Targets: (Bearish) $150, $108-105 (Bullish) $242, $286, $340.
Trend structure in ZOOM:
- Short term: Bearish.
- Medium term: Neutral-bearish.
- Long term: Neutral-bearish.
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