$WORK Looks To Have Bottomed$WORK looks to have finally bottomed. The stock got a lift today after Slack (NYSE:WORK) was initiated at Overweight at Wells Fargo with a $30 price target, a 50% upside. WORK shares have a Bullish average Sell Side rating.
Last month, Slack reported Q3 beats, an inline Q4 outlook, and an upside FY view.
Wells Fargo says the competition concerns surrounding Slack (WORK +2.4%) ($30 PT) are now overdone and sees the current setup as "favorably skewed."
With 17% of the float short, there's room for a short squeeze.
Slack Technologies, Inc. operates Slack, a business technology software platform in the United States and internationally. Its platform brings together people, applications, and data, as well as sells its offering under a software-as-a-service model. The company was formerly known as Tiny Speck, Inc. and changed its name to Slack Technologies, Inc. in 2014. Slack Technologies, Inc. was founded in 2009 and is headquartered in San Francisco, California.
As always, trade with caution and use protective stops.
Good luck to all!
Bottomingmarket
Neo: Superb textbook case of a bubble asset bottomingSupport on the daily 50 Smma, instantly blocked by the daily 200 Smma
Perfect textbook case, from 200$ to 5$
A very interesting pattern is developping in the Bitcoin MarketJudge by yourself;
Prerequisites:
-A significant drop before the market creates this pattern
-happens some time after a daily chart Smma death cross formed
-happens after Btc lost at least 80% of its value in Usd
-happens when Btc is under its daily 50 Smma
-forms an inverted U with an ascending trendling having almost the exact same "angle"
During the failed bottoming attempt of 2014 (Sept-Nov 2014), a sort of similar inverted-U+ trendline pattern appeared, but the "angle" was more accute.
This pattern comparison might look like a bit too "Charlatanesque" but i found it interesting, so i am sharing it with you.
Gonna call this the "Omega fulcrum Bottom" pattern if it suceeds lol.
Stay safe
Bitcoin: Bottoming processes, avoid to "buy the dip" gambleWe are quickly going to study the previous Bitcoin bottom symptoms;
2011
2014-2015
What is important to possibly form a bottom:
=> Smmas pierced and support established on them
=> Major rounded bottom with a double bottom present in a period of several months
There is no bottom special candle as some people are saying on social networks, there is nothing that shows the bottom is here in a week, unless the chart prints a V reversal
A bottoming formation is generally a long process unless it is a V reversal (F.e. Nasdaq Composite in 2000)
Only time, and patience can tell.
Gl to you
