$SUP share price surged by +34.94% parabolically in a short span of 4 trading days, breaking out of its mid-term trend channel that was established since December 2020. The latest closing price of $9.25 is a new 52 weeks high closing for $SUP.
With implied volatility still remaining almost 25% away from its March peak of $0.60/day ATR-14 range, the highlighted Bearish Shooting Star reversal signal along with diminishing trading volume over its consecutive up-days may imply an imminent heavy profit session within the week. Further upside for $SUP requires immediate trading sessions to recapture this week’s high of $9.65 to negate the highlighted bearish signs.
$SUP designs, manufactures, and sells aluminum wheels to the original equipment manufacturers and aftermarket distributors in North America and Europe. The company supplies aluminum wheels to the automobile and light truck manufacturers. It offers its products under the ATS, RIAL, ALUTEC, and ANZIO brand names.