Image Source: UnsplashUnity Software (U) stock has had quite the rollercoaster ride since its IPO, capturing the attention of investors and traders alike. Once hailed as a super growth stock, Unity saw an impressive parabolic run shortly after its debut. However, the bear market of 2022 brought the stock crashing down from $200 to around $20—a staggering drop of over 80%. Since then, Unity has been stuck in a prolonged consolidation phase, with a gradual downtrend that kept the stock in the laggard category.Recently, though, there’s been a shift. Unity has shown signs of life, with a sharp swing from $14 to $21, driven by high beta activity. This movement has formed a promising structure, highlighted by a sign of strength rally followed by a bullish flag—a classic setup for swing traders. The breakout from this structure, accompanied by aggressive demand, suggests that Unity might be on the verge of a more significant move.
