$CIFR has been considered "dead" money twice in the last 4 years. What's funny is that AFTER everyone dismissed the company and became uninterested, the forward returns were an 18x in 2022 and 15x most recently in 2025. While the world screams AI is a bubble and that neoclouds won't survive, the infrastructure behind it is still being built and monetized Technically, the stock is in a sweet spot between the 0.786 and 0.887 fib where I expect it to find a bottom. Notice how even amidst all this selling, price is still trading above the breakout that preceded it with no deviation or acceptance below the prior accumulation This too shall pass

$NUAI | Understanding the technical structure and where we go from here. A few observations, particularly the extraordinary selling pressure we've seen over the past month. But first, there's an important limitation worth acknowledging. Unlike companies such as $GOOGL , $AMZN, or even $IREN , we don't have the benefit of decades of trading history to evaluate NUAI's long-term technical structure. With <2 years of meaningful price history, we have few reference points to work with. It simply means we need to be more measured in the conclusions we draw. BUT from the price history we do have, the market has been communicating something fairly consistently. For much of the past year, $NUAI has traded within a broad range between approximately $3 and $6, repeatedly struggling to sustain advances beyond the 0.786 fib near $5.64. I've highlighted the descending resistance line that has rejected price on multiple occasions. Post-PPA we briefly broke above that resistance, even registering a weekly close above it, but there was no sustained follow-through. Instead, price reversed sharply and ultimately surrendered the entire breakout. This is why confirmation matters. A breakout isn't validated simply because price moves above resistance. You want to see buyers sustain that move, establish acceptance above the previous range, and ideally defend that level on a subsequent retest. We didn't get any of that. And importantly, this happened despite positive fundamental developments at the company. Use this as a useful reminder that a bullish catalyst and bullish price action aren't necessarily the same thing. The market can acknowledge operational progress while simultaneously reducing the valuation it's willing to assign to that progress. So where does that leave us today? Following nearly a month of relentless selling, we're now seeing the first signs of potential stabilization around $3.06, corresponding to the 0.618 fib. This is an important technical area, particularly given the magnitude of the correction and the substantial increase in trading volume accompanying the decline. But I wouldn't suggest the bottom has been confirmed. The broader blue-shaded region between approximately $2 and $3.50 represents an area of historical price activity where buyers have previously demonstrated interest. It's the region for accumulation. Could we still revisit the mid-$2s, or even the 0.5 fib at $1.99? Possible. But I suspect a considerable amount of fear has already been reflected in the stock price. The momentum indicators I track haven't yet demonstrated the kind of bullish divergence or sustained recovery that would give me greater confidence the corrective process is complete. And after a decline of this magnitude, some additional consolidation wouldn't surprise me. I overlaid a fractal from $IREN's 2025 correction to illustrate one possible recovery trajectory. It's not a forecast, nor am I suggesting NUAI must replicate that move. It's simply a useful illustration of how a stock can experience a sharp breakdown, retest a historical demand region, and eventually recover into its former trading range. For now, I'd be watching three areas: - $3.06: Immediate support and the first area where I'd want to see stabilization. - $2–$2.50: A deeper demand region if the corrective process extends. - $5.64: A resistance level that needs to be reclaimed and sustained to improve the broader technical outlook. Until this is convincingly reclaimed, remain open to further consolidation and volatility. Now, here's where I think the longer-term perspective becomes important. NUAI has made meaningful progress building its development platform, including its 207 MW power agreement at TCDC, securing the associated letter of credit, and assembling a team with substantial hyperscale infrastructure experience. But the equity is still being valued against significant commercial, financing, and execution milestones that remain ahead. I believe the opportunity for companies controlling strategically located power and capable of developing AI infrastructure remains substantial. But the market is currently placing a much greater emphasis on how these projects will ultimately be commercialized and financed. A strong LT thesis doesn't eliminate near-term technical risk, just as a deteriorating technical structure doesn't automatically invalidate the underlying business opportunity. For investors approaching the opportunity with a multiyear horizon, you should be increasingly interested in the risk/reward developing at $3. But I'm also comfortable allowing the bottoming process to unfold. There's no requirement that the stock immediately recover simply because it has corrected substantially. The objective isn't to predict a bottoms but to recognize where a potentially attractive opportunity is developing, understand what could invalidate that thesis, and position accordingly.

$NUAI vs $IREN The April 2025 fractal playing out to a T is pretty wild. But, the silver lining is that you get to buy a future multi-billion power developer for sub $400M Technical analysis isn't supposed to be absolute but it can certainly allow you to see things fundamentals and the market on its own won't show you