Another theory about that is a breakout of such a long respected trend is a major change and should be followed.
There are some big proponents of this theory (i.e Paul Tudor Jones). It basically means that something important has caused it to break out and we aren;t going back anytime soon. The COVID collapse gave us one more chance to buy in the trend back in March 2020 but that was a bit of an outlier (no kidding!). It also applies to the downside should you ever see it in any other stocks. It's a theory that makes sense to me - all collective information is priced into it and whatever is causing the move will likely continue. Can apply to stocks, commodities, etc.
Since then, the break has continued on its way. Some consololidation is happeneing now but it is getting close to a level where I'd be comfortable adding some more.
SOL Price at posting:
$32.48 Sentiment: Hold Disclosure: Held
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