Today is HOLO’s 2nd day of trading after the reverse split has taken effect. HOLO is starting to selloff, which is also what occurred last time. I think HOLO could dip to new all time lows before starting a rally, I would keep an eye out for that scenario over the next few days. HOLO is currently trading near a $5.70 support level, and is at risk of losing support here. I have $4 – $4.50 as a strong support zone and great price level for buying dips. However, I think there could be a discounted buy opportunity below $4. For now I would monitor to see if the price climbs back above $5.70, otherwise HOLO could continue to trend down.
HOLO closed the day above the $5.70 support level, which is bullish. However, the price is trading below support after hours. I would still be concerned for some downside, and I would still give HOLO some time to stabilize a bit. There’s a lot of volatility surrounding the reverse split. I think if insiders want to go long they would prefer to buy cheap first so I’m patiently waiting for a nice dip and discounted buy opportunity. I wanted to give HOLO around 3 days to stabilize so I think the end of day tomorrow should be a good time to reevaluate the charts for a trade setup.
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