MAR Squeeze 3/3/23
Bull case:
- Holding the YTD AVWAP
- RSI divergence cleared up some overbought conditions (4hr chart)
- Good earnings and guidance
- Consumer is still spending like a maniac (credit cards)
- Seasonality is favorable
Bear case:
- No reopening in China
- High likelihood of higher rates (macro)
If last year's action is any indicator, some downside is not unexpected. Personally, this is a certified BTFD candidate.
Let me know what y'all think!
- Holding the YTD AVWAP
- RSI divergence cleared up some overbought conditions (4hr chart)
- Good earnings and guidance
- Consumer is still spending like a maniac (credit cards)
- Seasonality is favorable
Bear case:
- No reopening in China
- High likelihood of higher rates (macro)
If last year's action is any indicator, some downside is not unexpected. Personally, this is a certified BTFD candidate.
Let me know what y'all think!
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.