$UWMC - Watch for that support

UWMC is currently sitting on the 200 DMA. It looks like it might check back to the trendline. The $7 area should provide decent support as it is the intersection of the Fibonacci, Point of Control (POC), and the trendline. If that support fails, we could see it pull back to the $6.29 to $5.48 area.

The RSI has just entered oversold territory, so I would watch the $7 area for a potential bounce. 👀

As always, I share my opinions and trades. I'm not suggesting anyone follow my trades. You do you.