Rumble Inc. (RUM) has been on fire, with its stock doubling in just two days, skyrocketing from $7 to $14.
The explosive rally comes as traders and investors pile into the social media platform, drawn by its rapid growth and the broader momentum in alternative tech plays.
This dramatic move has also been bolstered by strong technicals.
The stock’s 50-day moving average recently crossed above its 200-day moving average, signaling a bullish "Golden Cross" formation.
While the short-term price action has been undeniably impressive, Rumble’s rally is showing signs of being overextended.
After such a parabolic move, the stock is likely to pause and enter a “healthy correction” phase. These pullbacks are common in high-momentum stocks and can provide opportunities for longer-term investors to buy at more reasonable levels.
Key levels to watch include the $12 zone as potential support, with traders eyeing this area to gauge whether the stock can maintain its upward trend after cooling off.
If Rumble manages to consolidate without losing significant ground, it could set the stage for another leg higher.
For now, the stock’s story remains compelling, but investors should prepare for some short-term volatility as the recent surge digests.
