$ARM Holdings Ltd(ARM)$ It appears that ARM was rejected at the confluence of several things such as 50 SMA, Support of the previous trading range before 4/17 that is now acting as a bit of resistance, 50% Fib retracement of the decline from the close on 2/12, +2 sigma of Bollinger Band, and Max pain at 120 strike price.
I think that the pull back is quite temporary and the long term chart and the fundamentals look very bullish. However, I'd love to buy more cheap, so I hope we will see further decline in the next two days.
Also, otherwise, those guys who wrote call options at 120 would be sweating.
If arm breaks above 120, I think that the upside move is likely quite significant, potentially going up quickly to the top of previous range around 148 or even higher.
So, hopefully, I get to buy more below 120 and lower the better.
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