$RAY Dead Cat Bounce or Real Reversal?
RAY dropped nearly -9% today and hit a fresh low at $1.975 before bouncing back to $2.02. Price is now testing early resistance — but can it break through and reclaim momentum?
Key Levels to Watch
Resistance: $2.03 – A breakout could fuel a short-term rally toward:
TP1: $2.06
TP2: $2.10
Support: $2.00 – If broken again, the downtrend may resume toward:
TP1: $1.97
TP2: $1.94
Trade Setup – Watch for Continuation Signal
Bullish Entry: Break and hold above $2.03
Bearish Entry: Breakdown below $2.00 confirms further weakness
Stop-Loss: Tight SLs essential — recent wick shows heavy volatility
Volume Insight: 54K+ and rising — a bounce is forming, but sustainability depends on buyer follow-through