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Gapfill

EBIX the Mother of All GapsThis small cap gem should be a fun one for swing traders as the asset has nicely put in higher lows and higher highs in price for the last 15 months or so. And now at this moment it has 2 nice bullish setups going for it: 1) support at its $31 dollar level where there is also the 21 MA just below it as well. 2) a giant crater of a gap that needs to be filled still at around $47.15. If the price was to fill this gap that would result in a +35% move to the upside from where we currently sit. The ultimate target sits around $54, however. If this $31 level continues to hold, lookout as this asset could move quickly. Weekly candle close below $31 would be enough risk for me to exit the trade. Keep that bearish scenario in mind as many traders may be attempting to play this gap also.
ELong
by TradeVibez
SFIX - (up) Trend to continue after gap fillSFIX gapped down strongly on 8 March after earnings, leaving a lot of suffering bulls who had betted on the wrong side of this earning. The stock finally hit a low on 11 May and began it's recovery, cummulating to a strong gap up on 7 June, this time on earnings exceeding expectations. However this gap up was right where the prior gap (down) got filled. Those long suffering bulls who had previously betted on the wrong side of earnings saw it as their chance to exit at breakeven or smaller losses. This pushed the stock back down until the most recent gap (up) got filled @ 57.94 (support). Having establised a support at 57.94, it's now safe to bet on it's uptrend continuation with initial stop loss several ticks below this support. Short term traders can consider to scale out at the 100% and 161.8% extension levels. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
NASDAQ:SFIXLong
by Juliac
2
No Man's Land For NowGOED hanging out in no man's land. I like the climb it's had so far but big question mark as to whether or not it can break through the upper limit on this gap. Open to some thoughts but found this to be interesting: "During the pandemic, home improvement has increased dramatically with more people having the time to spend on it. This helped 1847 Goedeker perform well since the beginning of Covid. The company also sells fitness equipment, which again, was and is a major market due to the pandemic. June 16th, Goedeker announced its Q2 2021 results which could be the reason behind its over 5% gain today. The company’s revenue broke a record, moving up 41.9% year over year." Quote Source: 4 Penny Stocks to Watch Following the Fed Meeting and Powell’s Remarks
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by PennyStocks101
EVFM - Trend reversal (up)!EVFM was in a significant downtrend that saw it plunge from a high of 5.50 on 17 Feb to a final capitulation low of 0.74 on 18 May. Since then it had consolidated between 0.75 to 0.92 for several weeks until 7 June when we see a GAP UP from 0.87 to 0.99 on significant volume . This 1st gap in the opposite direction to the prior downtrend is likely the start of a new (up) trend, ie, a "breakaway gap". I went Long @ 1.00 with initial stop @ 0.85. There are prior resistences on the way up and it we have to manage this trade accordingly. Profit targets are suggested where we are likely to hit into some resistences. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
ELong
by Juliac
SHAK -on firmer ground to recoveryAfter hitting a low of 78 in a few weeks ago, SHAK finally gapped up on strong volume on 25 May, suggesting that the downward pressure might be over. Over the last 2 weeks it began to form a bull flag cummulating to a strong break out of this bull flag yesterday. These adds credibility that the trend has now reversed to the upside. I am expecting a near term target of at least 104-105 (gap fill and a previous support turned resistence). Should it be able to clear this level, then 115 becomes a possibility. Trail your stops upwards accordingly. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
NYSE:SHAKLong
by Juliac
Will Twitter Fill the Gap?It hasn’t always been a smooth ride, but Twitter has chopped higher since the fourth quarter. Now it may be poised for continuation to the upside. The bulls started logging on to the social-media stock in February as enhancements like direct-response (DR) advertising and mobile application promotion (MAP) drove engagement. The earnings have been mixed, especially with slow user growth. However the underlying trend of increased monetization remains the key driver. TWTR crashed on April 30 following inline quarterly results. It then held the 200-day simple moving average (SMA). It also stabilized at a long-term support line around $53.50, which dates back to an old high from April 2015. Next, the 8-day exponential moving average (EMA) just crossed above the 21-day EMA. MACD has also been climbing. Both of those suggest shorter-term momentum is turning bullish. Finally, you have the gap from April 30. TWTR closed on Friday at its highest level since the drop. Given how long it’s stabilized, traders may look for the stock to run higher and fill that gap. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:TWTRLong
by TradeStation
Gap FillEarnings gapped the stock up and it turned right back around quickly. My portfolio is filled almost exclusively with long and neutral positions so it was nice to find a good short position to add but the problem is that I have already allocated all of my funds in other positions. With a small account I take a few extra risk to increase it more rapidly; one of these risks is that I allocate almost 100% of my account balance to active trades. If the markets decide to blow up my account then I am very vulnerable. I try to mitigate this risk by having a somewhat diverse array of long, short and neutral position on at all times but I haven't seen any short position that I really liked so this is a nice find for that reason. This is just a 1 dollar gap so I wouldn't gain much from my typical deep in the money debit spread unless I thought it was going to fall much lower than my bottom trendline. So the way that I am going to set this trade up is to set up a in the money credit spread. If if it falls through the bottom trend line I make make profit, if it falls between the two lines I make money as long as its above my break even point, but the risk here is that if it doesn't drop in price enough to fall in the zone then all is lost; I'm good with that since I have defined my risk from the beginning of the trade with, in my opinion, is a kin to setting a stop loss in trades like this where the loss isn't much greater then the max profit.
NASDAQ:VTRS
by rufuspeoples