ASAN is a Hight Tight Flag candidate and is currently in the consolidation phase of the overall pattern. If you look on the lower timeframe you can very easily see the stock contracting making higher lows. ASAN has finally allowed the EMAs to catch up and has seen the 23EMA act as strong resistance multiple times. We are seeing volume dry up and I believe this will be ready for its next leg up soon. The stock has corrected very little in the consolidation phase and has actually made its way higher.
Bear case: not showing any volume recently but the stock did just go on a 100%+ run so it needs some time to digest its large gains.
Bear case: not showing any volume recently but the stock did just go on a 100%+ run so it needs some time to digest its large gains.