TRON Surges to $0.36 on $1B Buyback — Overbought, Wait for Pullback
I see TRON trading at $0.36 after a steep rally—about 172% YTD—driven by a $1B buyback program and record Q2 results. The RSI around 74 flags overbought conditions and raises the risk of a near-term pullback or consolidation.
I respect the structural bullishness from the buyback and earnings, but I would not chase the rally here. I prefer waiting for RSI to cool or for a meaningful retracement to layer in positions.
If I already hold TRX, I would consider trimming into strength and using stops; if I’m looking to enter, I’ll plan staggered buys on weakness with clear risk limits.
Analysis
Recommendation
My recommendation is to buy on weakness: wait for RSI normalization or a clear retracement before adding exposure, trim positions on further strength, and use disciplined risk management.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.