Is Story (IP) Quietly Starting a New Bullish Leg — or Is This a Bull Trap?
Story (IP) is once again in the spotlight after posting a strong 9% daily gain, reigniting debate among traders: is this the beginning of a sustained uptrend, or just another short-lived bounce? What makes this move particularly interesting is that IP has successfully reclaimed and held above the 50-day EMA at $2.31, following an impressive 13% breakout on Sunday.
Momentum has clearly shifted. Price has already pushed above Pivot Point R1 at $2.41 and is now pressing against the key resistance zone near $2.50. A clean daily close above $2.41 would likely confirm bullish continuation, opening the door for a move toward Pivot R2 around $3.10, a level closely watched by swing traders.
From a technical perspective, RSI on the daily chart has climbed to 71, entering overbought territory. While this signals strong buying pressure, it also raises the risk of short-term pullbacks. At the same time, MACD and its signal line have crossed above the zero line, reinforcing the view that bullish momentum has returned.
Trade Setup (Personal View):
• Buy Entry: $2.35 (on pullback or strong close above $2.41)
• Take Profit: $2.95 – $3.10
• Stop Loss: $2.20
• Bearish Scenario: A daily close below EMA 50 at $2.31 could expose IP to a deeper retracement toward the psychological $2.00 support.
This analysis reflects my personal opinion only and is not financial or investment advice. Always manage risk and do your own research.
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