What's Next For Indie Semiconductors Stock After SPAC Deal?
Indie Semiconductors Inc. (NASDAQ:INDI) shares are trading higher Tuesday morning after the company was listed on the Nasdaq schange. The company announced June 10 the completion of its business combination with Thunder Bridge Acquisition II Ltd. (NASDAQ:THBR). The combined company now retains the Indie Semiconductor name. Indie Semiconductors was up 1.98% at $10.05 at last check Tuesday. Indie Semiconductors Daily Chart Analysis  Shares have been falling recently and are trading in a downward trending channel  The stock is trading below both the 50-day moving average (green), and the 200-day moving average (blue), indicating recent sentiment in the stock has been bearish. The stock may find resistance near each of these moving averages. Key Indie Semiconductors Levels To Watch  The stock has traded in a downtrend since early 2021 and may continue to as long as the support and resistance lines keep holding. A break above pattern resistance with some consolidation could bring about a trend change for the stock. The stock may start an uptrend after the break of resistance. The Relative Strength Index (RSI) sits at 60 after being pushed higher throughout last week. This shows there are more buyers hopping into the stock than there are sellers leaving the stock. Bullish traders would like to see the stock keep moving higher and break above the resistance line. Bulls want to see the stock begin to form higher lows. If the stock can form higher lows and break above resistance it may signal that the trend is changing. Bearish traders would like to see the stock continue to trade in the downwards channel. If the stock can continue to trade below resistance it likely will continue to fall.