This stock is done for the foreseeable future. 2 ER ago they lied about their prospects of AI products that did not exist and still not earning revenue. Worse, they are increasing spending and hiring so having to spend money to achieve product launches next month.
Since the last ER, many key levels have been lost.
1) lowest low Anchored VWAP of $164.32 from June 2022.
2) Highest high Anchored VWAP of 177.68 from Nov 2021 when we hit a high of 405
3) IPO Anchored VWAP of $201.69.
4) lost the 10 week, 50 day, 30 week and all other avgs.
On a volume weighted basis everyone who has bought this stock is holding considerable bags and this supply from above will be resistance for quite some time. It can't even get above #1 on my list which is the average since hitting a low $110.27 in June 2022. You can see the wall of resistance on my chart. Holding and regretting
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
