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Grocery Delivery Leader Forms Bullish Wedge Pattern

by | Dec 24, 2024

Instacart (CART) closed strong on Tuesday back above the 21 EMA and its monthly POC volume level as it now has started to curl higher and clear a trendline from the November highs made up at 50. CART also triggered a bullish MACD cross as markets ramp higher into year end and this name could see momentum up to 47.50 where it would fill its earnings gap that was left open last month. CART still has some January $41 calls in open interest from buyers on 10/28 and the June $32 ITM calls bought 800x back on 9/19 still hold in OI.

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