-Up over 700% with no monthly consolidation
-Printed a monthly reversal candle with a very large upper wick.
-RSI indicator is over 98 still ( cannot go to 100 the way it is designed)
Compare this stock to monthly charts of arguably two of the most successful companies in their space and even they have never gone this parabolic for this long without monthly consolidation. AMZN during the dot com bubble or SHOP at its most extended. Both had a few months selling (consolidation) to digest the move and neither stayed this hot on the for as long without pulling back.
Now the . Today we saw big selling on their poor release. Missing both EPS estimates and Sales estimates. They are also trading at a very high valuation (more than double) when compared to any of their peers. We have a now developed and significant overhead resistance confirmed with todays large selling . Looking for the pattern to confirm to allow for the weekly divergence to play out giving this chart the monthly consolidation that is needed to digest this massive move.
First target is ~$190 and second is ~$160 over these next few months.