Hi all.
Just drawing your attention to some interesting price action because it looks constructive and could be setting up for a bigger move.
**$POLA, nano Float, 42% short interest,** haven’t found any news. Today it basically ripped from a low washout area through VWAP to **reclaim and hold roughly 30% gains from today’s low.**
That’s all I’ve got right now but I drew levels so I’ll leave them here in case anyone else finds this as interesting as I do. **I’ll do the thorough chart read as soon as I can** but just wanted to put this out there bc for momentum traders there may be a trade here.
**Levels:**
So I’m seeing immediate support at \~$1.90, near-term level \~$1.85, and a key support shelf at **\~$1.78. I could see a healthy pullback to that area** without getting a migraine. **\~$1.67 is my line in the sand.**
On the upside, **we’ve actually already crashed two of my resistance levels** since I started working on this. $1.95 was the first clean break when I first saw the price action today and I marked $2.00 but in reality it wasn’t really a technical level, more a psychological one.
$2.18 was my first real resistance level and now I’m noticing it’s pretty well past that at $2.23. **Let’s see if we establish support there,** it could take a few tries, assuming we’re seeing a real squeeze setting up.
**$2.30-$2.36 will be a big resistance zone.** If there’s enough momentum there we shouldn’t slow down until \~$2.59.
**Break $2.59 with volume** it heads toward $2.99.
**Break $2.99 and we have a true squeeze.**
The last level I drew is $3.25 but **it would really be an extension of the $2.99 level.** I won’t speculate beyond that, especially until I’ve had a chance to really look at the whole picture here.
**Sorry this is so quick and sloppy.** If you’re a momentum trader you’ll know what to do with it. I’m working on the charts now.
