FUTU
FUTU - Ready for a new bull run ?FUTU - Looking good but I'm not sure if we're in a wave (ii) or smaller degree wave iv on the 65min chart.
We can buy a break above 160 nonetheless with a very tight stop of 5-6$ and in worst case get out at breakeven if the alternate count is right and price turns lower after making a new high above 164.
FUTU parabolic move coming to an end or moon?$Futu... very aggressive moving stock here, Chinese holding company that has gone parabolic, watching to see a continuation to retest ATH or a hard drop! Not a good long term stock imo, very volatile and only recommend going in this for short term swing or day trade. Expensive premiums and high IV on contracts, choppy movement or flat movement after hours will kill your premiums and contracts will lose value quick.
*side note* I have been busy with work and school and still have some personal things to handle this coming month but will be dropping some charts and affordable plays later. As of now the market looks bloody as we rotate to different sectors each week. Set watchlist by sectors and see where the money is going. Lots of strong company names (aapl, tdoc, sq, tsla) on sale and are at a great spot to add them to long term portfolios. It is safe to stay away from short term swings as there is lots of market uncertainty due to stimulus, memes, inflation, etc. Don't get burned trying to catch the bottom, sacrifice a little profit and wait for clear signs of reversal. Don't know signs of reversal? well now is your time to do some research on TA, FA, Market psychology and more. I will also be uploading more educational videos covering that as soon as I can!
FUTU Trade Recap
Purchased the $FUTU $55 Call a little early and experienced a quick break down out of our bullish declining wedge (blue). Didn't go exactly as predicted but I held -70% loss at one point for a great play coming out at ~135% gain on initial investment by following my indicators and price action levels. (Blue & yellow)
Can present itself to be a continuation play tomorrow for a good day trade. Still holding 1/3 of initial position .
FUTU - Support at 41/43, good place to start building longsThis one has been pretty good to me and my subsribers us althought our first buy in was stopped out for a tiny loss but we were able to get in again and got some nice profits out of it.
Now we're in a fourth wave so this could and probably will continue some more sideways if it stops at support.
So, building longs slowly is the way to go imo but only if we see price stall around the marked support zone !