TPG Plunges 6% to $60.50 as Bearish Momentum Breaks Key Support

Candlestick Theory
TPG's recent price action reveals significant bearish momentum, culminating in a 6.00% decline to $60.50 on September 24, 2025. This session formed a long red candle with a high of $64.54 and low of $60.46, decisively breaching the short-term support near $63.50. The preceding session (September 23) showed a doji-like pattern (high $65.52, low $63.94, close $64.36), indicating indecision before the breakdown. Key support now resides at $60.50–$60.46, aligning with the August 25 low of $60.27. A failure to hold this level may expose the psychological $60.00 threshold and the $58.95–$59.00 zone (September 10–11 lows). Resistance is established at $64.50–$64.54 (recent breakdown point), with stronger resistance at $65.52 (September 23 high).
Moving Average Theory
The moving average configuration signals deteriorating short-term momentum. While precise calculations are unfeasible without raw closes, TPG’s close at $60.50 likely positions it below the 50-day MA (estimated ~$62.00). This breach suggests weakening near-term bullish control. The 100-day and 200-day MAs (roughly $58–$59) remain below the current price, indicating persistent longer-term uptrend support. However, the 50-day MA may cap rebound attempts near $62.00. A sustained break below the 100/200-day MAs would be necessary to invalidate the broader bullish structure.
MACD & KDJ Indicators
The MACD likely exhibits a bearish crossover, with the signal line overriding the MACD histogram—a sign of accelerating downside momentum. Concurrently, KDJ readings reflect emerging oversold conditions but lack confirmation. For September 24, the 9-day KDJ calculation uses a high of $65.52, low of $60.46, and close of $60.50, yielding an RSV near 0.8—severely depressed. This translates to K-values around 33 and D-values near 51, avoiding oversold (<30) territory. While momentum is bearish, the oversold RSV hints at potential exhaustion if support holds.
Bollinger Bands
TPG’s close at $60.50 approaches the lower Bollinger Band (estimated ~$60.00), derived from a 20-day SMA near $63.00 and a standard deviation of ~1.5. This proximity signals oversold conditions and possible short-term support. The bands expanded notably on September 24, reflecting volatility surge during the breakdown. Historically, such expansions often precede consolidation or reversals, but a sustained close below the lower band could intensify selling.
Volume-Price Relationship
The bearish move was validated by a 68% volume spike to 1.68M shares on September 24, exceeding the 30-day average. This distribution-dominated volume underscores strong selling conviction. Earlier rallies (e.g., August 12 volume of 2.09M shares) saw volume confirm breakouts, but recent volume divergence—declining during late September’s consolidation—preceded the breakdown. Volume must subside to signal selling exhaustion near support.
Relative Strength Index (RSI)
The 14-day RSI is approximately 25, deep in oversold territory. This reading incorporates the 6% drop and minor prior gains, yielding a low RS ratio. While oversold, RSI can linger here during strong trends. Traders should monitor for divergence on rebounds (e.g., rising RSI against lower prices) to gauge reversal potential. Historical oversold RSI readings near $58–$60 preceded rebounds, reinforcing this level’s technical relevance.
Fibonacci Retracement
Applying Fibonacci to the August 4 low ($55.63) and September 23 high ($65.52) yields key levels: 61.8% ($59.41), 50% ($60.58), and 38.2% ($61.74). TPG’s close at $60.50 breaches the 50% retracement but remains above the critical 61.8% support ($59.41). This confluence (Bollinger Band near $60.00, RSI oversold, and 50% Fib) highlights $60.00–$60.50 as a pivotal zone. Failure here targets $59.41–$58.95, whereas a rebound could test $61.74 (38.2%) or $63.19 (23.6%).
Synthesis
TPG faces a critical juncture at $60.00–$60.50, where Bollinger support, a major Fibonacci level ($60.58), and oversold RSI converge. The breakdown on high volume and bearish MACD crossover suggest dominant selling pressure. However, the oversold RSI and proximity to the lower Bollinger Band indicate short-term bounce potential, with resistance anticipated at $62.00 (50-day MA) and $64.50. Conclusively, a sustained break below $60.00 would open downside to $58.95–$59.41, while reclaiming $62.00 is necessary to neutralize near-term bearishness.