While
CRSP
did finish Friday down 3.7% it also happened to close on top of what was previous resistance during it's late 2019 rally. If it were to break below this level my next target would be the psychological $50 area which has acted as solid resistance on the way up and should now provide good support. Support at $50 would also confirm retracement to the 61.8 fib level potentially signaling the bottom of this correction. Lastly i would like to mention the RSI which as of Feb 07 was sitting at 35.13. During the previous breakout the RSI was much higher and resulted in a double top. This time it would seem that we have even more fuel in the tank.
CRSP
did finish Friday down 3.7% it also happened to close on top of what was previous resistance during it's late 2019 rally. If it were to break below this level my next target would be the psychological $50 area which has acted as solid resistance on the way up and should now provide good support. Support at $50 would also confirm retracement to the 61.8 fib level potentially signaling the bottom of this correction. Lastly i would like to mention the RSI which as of Feb 07 was sitting at 35.13. During the previous breakout the RSI was much higher and resulted in a double top. This time it would seem that we have even more fuel in the tank.