ExP has seen tremendous growth in a nice upward channel however, there are major headwinds that can really challenge the market that is already suffering severe supply/demand issues.
If exp does not hold the lower channel support and breaks down from there, my point and figure chart shows a bearish price objective $9.
Keep your eyes on that support line! It would be nice to see a bounce and moment to sell some puts, however I would be cautious about that because with
all the R&D, economic and rate headwinds, this high flyer could put in a lower high.
So far, we have seen a nice upward trend channel and no violation of that but I'm skeptical of what happens at this support line and would need to seem some really convincing changes in patterns, before I would even consider adding or starting any position here.
If exp does not hold the lower channel support and breaks down from there, my point and figure chart shows a bearish price objective $9.
Keep your eyes on that support line! It would be nice to see a bounce and moment to sell some puts, however I would be cautious about that because with
all the R&D, economic and rate headwinds, this high flyer could put in a lower high.
So far, we have seen a nice upward trend channel and no violation of that but I'm skeptical of what happens at this support line and would need to seem some really convincing changes in patterns, before I would even consider adding or starting any position here.