The WWE Stock Revival: A Deep Dive Into The Wrestling Giant's Remarkable Recovery After Hitting The $100 Benchmark

• WWE's stock price is witnessing a substantial upward trajectory and could achieve new record highs.
• The stock has successfully retested the $100 support level, a necessary validation to confirm a genuine trend continuation.
• Its impressive rally, including a 4% surge on June 26th, showcases positive momentum towards establishing a new bullish trend.
• Currently, WWE stock is nearing its all-time high at $110. Should it break this level, the stock could trigger a powerful bullish trend.

The stock price of World Wrestling Entertainment, Inc. WWE is currently experiencing a significant upward movement. It is on an impressive trajectory, akin to a main event matchup, and could potentially reach new record highs.

The stock price reached a significant milestone in April 2019 when it approached the crucial $100 psychological resistance.

However, instead of breaking through, the company experienced a steep decline of 70% over the next eleven months.

The drop finally came to a halt just below $30, coinciding with the peak of the global pandemic.

After three years, WWE once again entered the ring to take on the formidable $100 opponent. However, this time, the company's stocks gained solid buying momentum, surpassing the ill-fated 2019 attempt and pushing the shares beyond the $100 ceiling.

The importance of the $100 round number is significant. In order to confirm that it is not a temporary breakout, validation is necessary.

This requires the stock price to fall back to $100 as a means of support, bounce from that level, and then form a pattern of higher highs and higher lows, which confirms the emergence of a new trend.

The WWE stock looks on track to achieve this and is showing positive momentum as it recovers well from the decline to $100.

On June 26th, there was a notable surge of over 4% in a single day during the current move up. Price is also approaching the all-time high of $110. If this level is broken, it could trigger a powerful bullish linear trend and push the stock into new, unexplored territory.

This upcoming rally presents an enticing opportunity for both investors and market observers. It remains to be seen whether WWE's stocks can defy expectations, reach unprecedented levels, and redefine their reputation.

After the closing bell on Friday, June 30, the stock closed at $108.47, trading up by 0.56%.