There’s a fellow over in wsb-land who has attracted a loyal following. I noticed last night he went “all in” on a stock I had never heard of – – Corsair Gaming – – and I’m sure his acolytes dutifully followed along. It’s a huge position.
This humble chartist merely wants to point out that CRSR has, in fact, broken its uptrend, and I have no idea what the big appeal of this thing is. It’ll be interesting to see where this thing is in, let’s say, a month from now.
More broadly, the market’s strict obedience with respect to its trendlines is borderline incredible. Just look at the DIA ever since November 9th. That blue trendline on top has been a reliable ceiling for price action for the entire period, so today’s weakness makes sense.
In other “chart friendly” news, I wanted to point out that the leveraged small cap fund, symbol TNA, did a picture-perfect gap close. The gap from February 21st was 71.67; yesterday’s high was 71.60. Close enough!
