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HOLO Starts to Bleed After Losing $0.28 Support

Written By: ChartChamp

September 13, 2024

HOLO has started to break down below the $0.28 support level and is gradually bleeding. I would give HOLO some time to form a bottom near a new all time low before considering my next entry. There’s plenty of time between now and the Sept. 27 shareholder meeting so I will patiently wait for an opportunity.

Analyzing HOLO’s Feb. 2024 Reverse Split

HOLO has an important shareholder meeting on Sept. 27 where there will be discussions of a 1:20 reverse stock split among other important topics. HOLO experienced a reverse split earlier this year in Feb. 2024, which sparked a meme stock rally from $1.50 to $98.50. These are the chain of events that took place in Feb. 2024:

  • A 1:10 reverse stock split occurs on Feb 2, 2024
  • HOLO experienced 3 red days on Feb 2, 5, and 6.
  • On Feb 6 HOLO closes at $1.51.
  • On Feb 7 HOLO opens with a bullish gap higher and soars to $18.64
  • In just 8 trading days HOLO reached $98.40.

Will history repeat itself? We’ll find out in October. For now I don’t expect anything exciting and I have been bearish because I think the price will trend down lower.

Follow me on social media: https://linktr.ee/realchartchamp

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