VMware stock price has been in a strong bullish rally since the start of March 2023, rising from the low of $109 and forming a high of $170. The stock price surged approximately 55.30% from the low.
Recently, VMW faced strong rejection near the $170 level, and the bullish move was halted. The stock price retraced and formed a support at $154.50. It re-gained bullish momentum in hopes of retesting the annual high.
The 24th August candle closed as a strong bearish candle and the last…