My previous idea has played out to perfection. Refer here:
We have now broken the consolidation pattern (symmetrical triangle) to the upside. This confirms that our bias is to the upside (bull) side. Dips should be bought, and it looks like we further consolidated that upmove last week and are now trading in a bullish pennant pattern. The next target should be the $15-16 level. I believe we will reach this level with explosive price movement, as we have now trapped a lot of shorts at the $13-14.50 level. These shorts will eventually get liquidated and be forced to cover, breaking our (glass) ceiling of the $14.50 level. Call options are still cheap, and IMO last week gave us another opportunity to add more. I have been consistently saying for weeks that dips are to be bought. Yes, we are not moving as fast as we should be, but I would prefer this price action versus an explosive move up and a big elevator down type move like we saw in January. Eventually, we will see a big teleport, but we must first continue to trap the shorts and buy the dips. There are hidden whales who are long and are waiting for the right time to press the nuke button on the hedgies, patience will be a virtue!
WANDA selling off is another great thing. LOOK guys, they sold 30 million shares and the price only dropped $2.50. That's pathetic! It means apes and bullish whales are soaking up the shares. NO ONE IS SELLING THIS THING. It's pathetic how hedgies have actually been masturbating to the fact that the price has been dropping, yet we spiked 60% in a week. This was a warning shot. The next move will be continuous 100% days. But we must first be patient, as we are still just getting above consolidation and re-tests of market structures are inevitable. Nothing in life is easy, but we must continue to hold and buy the dips!
$100 target is still on by July-Aug 2021
We have now broken the consolidation pattern (symmetrical triangle) to the upside. This confirms that our bias is to the upside (bull) side. Dips should be bought, and it looks like we further consolidated that upmove last week and are now trading in a bullish pennant pattern. The next target should be the $15-16 level. I believe we will reach this level with explosive price movement, as we have now trapped a lot of shorts at the $13-14.50 level. These shorts will eventually get liquidated and be forced to cover, breaking our (glass) ceiling of the $14.50 level. Call options are still cheap, and IMO last week gave us another opportunity to add more. I have been consistently saying for weeks that dips are to be bought. Yes, we are not moving as fast as we should be, but I would prefer this price action versus an explosive move up and a big elevator down type move like we saw in January. Eventually, we will see a big teleport, but we must first continue to trap the shorts and buy the dips. There are hidden whales who are long and are waiting for the right time to press the nuke button on the hedgies, patience will be a virtue!
WANDA selling off is another great thing. LOOK guys, they sold 30 million shares and the price only dropped $2.50. That's pathetic! It means apes and bullish whales are soaking up the shares. NO ONE IS SELLING THIS THING. It's pathetic how hedgies have actually been masturbating to the fact that the price has been dropping, yet we spiked 60% in a week. This was a warning shot. The next move will be continuous 100% days. But we must first be patient, as we are still just getting above consolidation and re-tests of market structures are inevitable. Nothing in life is easy, but we must continue to hold and buy the dips!
$100 target is still on by July-Aug 2021
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.