Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Affirm stock (NASDAQ: AFRM) fell almost 25% in the current month.</a> </li> 
 <li> <span>2</span> <a>AFRM stock drops below the 50-day and 200-day EMA.</a> </li> 
 <li> <span>3</span> <a>Affirm Holdings Inc. is expected to report quarterly earnings on August 24, 2023.</a> </li> 
</ul> 
<p>Affirm stock (NASDAQ: AFRM) price corrected 25% (approx.) in the current month. It formed a double-top bearish pattern which raised concern for long-term investors.&nbsp;</p> 
<p>AFRM stock is trading near the neckline of the double top pattern. If the breakdown happens then a panic sell-off might trigger in the stock.&nbsp;</p> 
<p>Affirm Holdings Inc. (NASDAQ: AFRM) stock faced rejection from the 200-day EMA showcasing downtrend. Recently, stock prices dropped below the 50-day EMA which invited further decline.&nbsp;</p> 
<p>At the beginning of July, Affirm stock price took support near $13.00 and formed a bullish engulfing candle. Later, the price managed to climb above the 50-day EMA and began to recover by forming higher highs.&nbsp;</p> 
<p>AFRM stock rallied approximately 46% and recovered the losses of June month. On August 1, 2023, Affirm stock prices tried to break out of the $20.00 hurdle to regain the confidence of investors. But the attempt failed and prices again reverted in a downward direction.&nbsp;</p> 
<p>Affirm stock price closed the previous session at&nbsp; $14.50 with an intraday rise of 1.97%. The market capitalization stands at $4.29 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-affirm-stock-afrm-recover-after-earnings-strong"><strong>Will Affirm Stock (AFRM) Recover After Earnings?</strong></h2> 
<div class="wp-block-image"> 
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  <img decoding="async" src="https://lh4.googleusercontent.com/YDdsv89QwQqF7-U7kHXI1BOeUJBjNYleFQYbg5Zx3la1hJ1OE6xA7hJnJJo5dgyK7MNDVlfG2OTISiJLUme06oAKLwd09eEIOGPx6IlZTsZBG0uteEe-EjW-F51x4uIHiBK-YsShcZESDK9SI-bJVQ" alt=""> 
  <figcaption class="wp-element-caption">
    NASDAQ: AFRM daily chart by <a href="https://www.tradingview.com/x/KBPB194i/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Affirm Stock (NASDAQ: AFRM) performed well after the release of the previous quarter earnings. It rallied 110% approx from the lows and rewarded its short-term bullish traders.&nbsp;</p> 
<p>Affirm Holdings Inc. scheduled the next quarterly results on August 24, 2023. Market analysts estimated an EPS of -0.865 and revenue of $406.153 Million.&nbsp;</p> 
<p>If the company succeeds to meet the estimates then stock prices might show a sharp rise. Else, the $12.00 support level will be at risk. The technical analysis suggests <a href="https://www.thecoinrepublic.com/2023/08/02/affirm-stock-up-by-26-will-afrm-stock-price-rally-to-25-00/" target="_blank" rel="noopener noreferrer nofollow">AFRM stock</a> is near to crucial support and the possibility of taking U-turn is high.</p> 
<h3 class="wp-block-heading" id="strong-afrm-stock-is-in-a-correction-phase-strong"><strong>AFRM Stock is in a Correction Phase</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp; 
 <div id="tradingview_23efe"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
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</div>  
<p>AFRM stock is in a correction phase and volatility may rise in the coming few sessions. The next direction in the stock will be visible only after earnings, till then stock may trade near EMAs.&nbsp;</p> 
<p>The major indices like SPX and Nasdaq composite are turning mild bearish after the shorts positions of Michael Burry. Due to that Fintech and technology companies might get impacted.&nbsp;</p> 
<p>AFRM stock formed a strong base near $10.00. So if the prices tumble after earnings then also $10.00 is likely to get defended.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Affirm Stock (NASDAQ: AFRM) witnessed profit booking ahead of earnings. The volatility may rise and AFRM stock prices might react violently after earnings.&nbsp;</p> 
<p>The possibility of reaching $20.00 will increase when Affirm Holdings succeed to meet the analyst estimates.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $20.00 and $22.79</li> 
 <li>Support levels: $12.85 and $10.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Affirm Stock (NASDAQ: AFRM): Will AFRM Stock regain $20 Mark?

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Thecoinrepublic.com

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