RSI Capitulation: CHR Tests $1.59 Support
Cheer Holding Inc (CHR) retreated 7.77%, ending the session at $1.59 on April 11.
The technical picture is bearish:
Moving Averages
Moving averages are stacked bearishly—price below the 9-day at $2.17, resistance at 21-day ($2.55).
Momentum
RSI at 16.6 is approaching oversold territory, which may present buying opportunities. MACD reads -0.41 against its -0.37 signal line (bearish).
Volatility
Price has pierced the lower Bollinger Band ($1.80), which often precedes a bounce.
While EMAs remain bearish, the oversold RSI reading hints at potential support around $1.80.
Watch $1.80 as support and $3.27 as resistance.
