$RAY Price Analysis - Strong Breakout Momentum
$RAY has shown significant bullish momentum, currently trading near $6.70 after breaking past key resistance levels. The previous accumulation zones around $4.40 and $4.80 provided a strong base for the recent rally. The breakout from these levels indicates increasing buyer interest and a shift in market sentiment.
As the price moves higher, traders should watch for a potential retest of the $6.50-$6.70 zone, which could serve as a new support. A successful retest may lead to further upside, targeting $7.20-$7.50. However, if the price fails to hold above $6.50, it could signal a short-term pullback toward $6.00, providing opportunities for re-entry.
Traders should monitor volume and market reaction at these levels to identify continuation or reversal patterns. The strong breakout structure suggests a bullish bias, but caution is warranted for overextended moves.