DWAC setting up for explosive continuation move
Updated
DWAC may be become the company that will disrupt the whole industry as we know. Please find below my view:
Fundamentals:
1. David Nunes left congress to become DWAC CEO. This tell us that things got very serious.
2. SEC investigation - I believe it's only temporary. I don't think that people who will be creating those platform, that may disrupt the whole industry would miss something that would put a majorn concern about the company.
3. Donald Trump presidential campaign - as many people speculate that Donald will enter into next presidantial race and to have any chance he needs to establish social media power, now let's imagine what would happen to DWAC stock price if he announced it on the very first post on this platform.
4. DWAC will likely to become a cult stock (if it isn't already) as almost half of USA stand by Donald. Similar to TSLA, which valuation scyrocketed in last year burning all shorts with it as people just believed in Elon alone.
Market profile perspective:
1. DWAC 08.12.2021 noted the highest volume post ipo and surged in few days out of 39-45 consilidation. This itself is bullish indicator.
2. We have now entered into upper value area 56-61 and still finding interest here - we can call it acceptance.
All things considered in my opinion we'll trade 70$ and 90$ realtively soon as stock is still very cheap. Stock is barely above 2bn valuation comparing to Twitter (34bn) this gives us some perspective.
PS:
One more clue: At the moment of Trump's twitter account ban he had almost 89mn followers while Twitter alone have 206mn active users.
I'm not a financial advisor and this is only my opinion about current stock situation.
Stay safe!
Fundamentals:
1. David Nunes left congress to become DWAC CEO. This tell us that things got very serious.
2. SEC investigation - I believe it's only temporary. I don't think that people who will be creating those platform, that may disrupt the whole industry would miss something that would put a majorn concern about the company.
3. Donald Trump presidential campaign - as many people speculate that Donald will enter into next presidantial race and to have any chance he needs to establish social media power, now let's imagine what would happen to DWAC stock price if he announced it on the very first post on this platform.
4. DWAC will likely to become a cult stock (if it isn't already) as almost half of USA stand by Donald. Similar to TSLA, which valuation scyrocketed in last year burning all shorts with it as people just believed in Elon alone.
Market profile perspective:
1. DWAC 08.12.2021 noted the highest volume post ipo and surged in few days out of 39-45 consilidation. This itself is bullish indicator.
2. We have now entered into upper value area 56-61 and still finding interest here - we can call it acceptance.
All things considered in my opinion we'll trade 70$ and 90$ realtively soon as stock is still very cheap. Stock is barely above 2bn valuation comparing to Twitter (34bn) this gives us some perspective.
PS:
One more clue: At the moment of Trump's twitter account ban he had almost 89mn followers while Twitter alone have 206mn active users.
I'm not a financial advisor and this is only my opinion about current stock situation.
Stay safe!
Note
We closed today's session at 56$ which is ok, given recent rapid spike. Despite heavier volume at the close, we held in value area. This is the sign of absorption and patient buyers.55$ as per market profile should be a very decent support.
However if we broke it, 50$ mark would be a Christmass gift and rock solid support.
Note
So far 55$ was a bottom tick today :)Note
50$ support capped all the downside pressure. Now we are ready to go up IMONote
What a day!Both 70$ and 90$ target met.
Note
If you bought DWAC at the lows at ~60, than congrats! :)If we will be able to close above 68$, our support thesis will remain true and I think we are ready for next move above 100$.
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