Wish - go big or go home
Updated
Wish is entering a critical time period for shareholders. Earnings was moved up a day, causing an enormous volume spike and price increase to $6.25+, only to be sold off on low volume in the 5 days following off absolutely no news whatsoever. My outlook is currently long term bullish, with short term neutral to bearish with potential for large vertical spike. This seems like a false breakout of the bottom of this bull flag, RSI is now oversold, this stock seems to be beaten down relentlessly for no reason as a 30%+ drop after their horrible Q2 earnings should have priced in the company's current condition. I am long with a long term hold plan, this seems coiled up and ready to go at any time.
Bull thesis - 1. Buyout candidate for several major players at this valuation. 2. Enormous gap to fill at $9.40. 3. Oversold, beat up beyond anything logical (trades at 1x sales), and reversal seems to be taking place. 4. Prior Zach Morris pump candidate.
Bull thesis - 1. Buyout candidate for several major players at this valuation. 2. Enormous gap to fill at $9.40. 3. Oversold, beat up beyond anything logical (trades at 1x sales), and reversal seems to be taking place. 4. Prior Zach Morris pump candidate.
Note
Wish seems to be holding the upward trendline in my chart. Zooming out we are on the verge of breaking out of a much larger downward wedge. I think a large price movement is on its way, it might break before earnings. Beware of earnings - a miss could be a disaster for shareholders, but if they beat expectations, even slightly, this has potential to skyrocket. I will continue to hold I am expecting a slight beat on earnings and a catalyst for the recovery of this stock. I still believe it will fill the gap at $9.40
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