Squeeze Play: CHR Preps for Breakout at $1.37
The stock of Cheer Holding Inc (CHR) climbed 3.01% to close at $1.37 on February 25.
The technical setup looks bearish:
Momentum
RSI at 45.1 is neutral but weakening. MACD reads -0.07 against its -0.11 signal line (bullish).
Moving Averages
The stock trades below its 9-day EMA ($1.39) with the 21-day ($1.41) acting as overhead resistance.
Volatility
Stock has been in a TTM Squeeze for 8 days, indicating compressed volatility and potential for a significant move.
While EMAs remain bearish, positive MACD divergence hints at potential support around $1.17.
Technical levels: $1.17 support, $1.55 resistance.
