Good news for HOLO investors, the volume of shorts has significantly declined as HOLO approaches the $0.41 – $0.43 support zone. Short volume recently spiked up, and it is clear that shorts have been driving the price back down again. Now that short volume has decreased, I would monitor $0.41 – $0.43 to see if the support zone holds.
HOLO Testing Key Support Level
HOLO experienced a strong selloff after the dilution news announced on Friday. Shorts have clearly been in control again, but the price is now reaching a critical level between $0.41 and $0.43. Over the next few days I would monitor to see if this support zone holds, and whether HOLO starts to trend back up again. For now I would monitor $0.41 to see if there is continued support.
The key details to keep in mind:
- HOLO has pumped and dumped every other quarter. There is still time between now and Sept. 30
- HOLO needs to rise back above $1 to avoid delisting by Feb. 10, 2025. This can be accomplished through driving the price up or through a reverse split.
- The week of Sept. 9 is a very bearish week with an average decline of 40%. There is an opportunity to swing trade by exiting before Sept. 9 and buying back lower to increase the # of HOLO shares.
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