$ARM Holdings Ltd(ARM)$ #Bearish
- ARM is down from its ATH and red for last 2 days. If the stock goes down below 148, I'm expecting downward trend to continue.
- If today ends up above 167 then the trend is not fully developed and wait for the next move.
- Heavy institutions sell off in last 2 weeks and hence be careful about any pump during start of the day
Conclusion:
The stock may experience a short-term downward correction. If the price breaks below the lower trend line of the rising wedge, it could potentially drop towards the 50-day EMA at around 135. If it breaks above the upper trend line, it might test the recent highs around 170. Keep an eye on volume and other confirming indicators for better signals.
Modify on 2024-07-02 17:34
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- CornellRudolph·07-04Downward trend continues. [Sad]LikeReport