$GIGGLE has recently experienced a severe pullback.

From the high of 159.9 all the way down to around 120.12, although still above the short-term moving average MA7( at about 118), it is being tightly pressured by MA99( around 122) and MA25( around 133). Overall, the market is in a tug-of-war between bulls and bears, slightly leaning towards bearish.

Looking up, the first hurdle is the position of MA99 at 122, and then there is the MA25 range of 130-135 above it. If it can break through and stabilize in the 122-133 area cleanly and decisively? Then it would have a chance to touch 140 or even 160 again. But in the current state, to be honest, it's still early.

What about going down? There is a short-term support cushion at 115-118. If it really continues to drop, 105-110 is the key structural support area. If the sellers push harder, this position must be monitored closely.

The change in trading volume is quite interesting—there was a clear spike during the rally and the sell-off, but now it's gradually shrinking. Recently, this small rebound does seem to indicate some buying interest, but to really reverse the trend? We need to reclaim the MA99 and MA25 moving averages first, otherwise confidence won't build.

In summary: currently it's just a short-term technical rebound in a corrective downtrend; whether it can turn around depends on whether it can re-establish itself above those key moving averages. In terms of operation, don't rush to chase, wait for clearer signals before acting.