$FOLKS is getting absolutely slaughtered right now. Seeing a -31% drop in a single day is heavy, and looking at the hourly, there is zero sign of a floor yet.
It just sliced through the $6.00 level like it wasn't even there. We are currently sitting right at the local bottom near $5.11. Usually, when a chart looks this vertical, people start looking for the bounce, but the volume is still showing high selling pressure. I’m watching to see if we can hold this $5.00 psychological level. If that snaps, it’s price discovery to the downside. I'm staying hands off until I see some actual consolidation or a double bottom forming. Careful catching knives on this one.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
$FOLKS is getting absolutely slaughtered right now. Seeing a -31% drop in a single day is heavy, and looking at the hourly, there is zero sign of a floor yet.
It just sliced through the $6.00 level like it wasn't even there. We are currently sitting right at the local bottom near $5.11. Usually, when a chart looks this vertical, people start looking for the bounce, but the volume is still showing high selling pressure.
I’m watching to see if we can hold this $5.00 psychological level. If that snaps, it’s price discovery to the downside. I'm staying hands off until I see some actual consolidation or a double bottom forming.
Careful catching knives on this one.
#JoinGrowthPointsDrawToWinGoldenBar