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Square is shifting gears! Low risk 65% gain in < 3 months.Square ( NYSE:SQ ) is a serious growth company and is certainly a long-term investment. I'm bullish on NYSE:SQ long term, but I believe especially today, the stock has presented us with an excellent buying opportunity. As usual, I don't talk fundamentals. I'm only looking at the chart from a technical analysis perspective. Sometimes, after a stock is running inside an ascending parallel channel, there comes a point when it seems to be dropping below the channel, but the reality is it's only changing gears to enter a an even faster ascending parallel channel. It's kind of like the small moment of deceleration a racer has to suffer in order to shift to a higher gear, a phenomenon that coming generations will never know thanks to Tesla's single-speed transmission taking over the world. Anyway, back to NYSE:SQ . Let's look at the chart. I have two parallel channels. The current one, and the new one I expect price to be bound within in the near future. I also have a set of steeper-inclined parallel lines which delineate local bullish movements. I believe this inclination will keep supporting price much longer in the coming bullish moves. I also believe that it will be the slope of a parallel channel later this year, but I'll sit on that idea for now. Based on that, I drew a price path prediction. My target is $355 in 76 days, by 7 April 2021. My stop loss is at $195. Picking the stop loss was rather hard and somewhat arbitrary. I picked it based on historic RSI levels, how long I expect a drop to last in case a drop occurs, and basic support and resistance levels. Most importantly, the last close has hit the very bottom of the parallel channel. My estimation is that this is a golden buying opportunity. My only worry is that even though the parallel channel has held the price four times since September 2020, it has failed one time (30 Oct - 3 Nov) which I marked in the red circle. It wasn't a serious break though. However, we must be prepared for it to happen again. That's why I set the stop loss a little bit lower. However, I am confident it will hold the price, and even if it doesn't, it will make an even better buying opportunity. And even if it breaks lower, Square is a solid investment and is certainly a hold. Conclusion : If you're in it for a trade, then decide the size of your position depending on how much you are willing to lose. If you're willing to lose $100, and our stop loss is at -10%, then open a trade with $1000 and set your stop loss. If you're in this for investment, this is a good opportunity to add to your long-term position. So, buy and hold.
NYSE:XYZLong
by TechNerdOmar
39
BYND breaking out of wedgeBYND is breaking out of bulling falling wedge very impulsively. Highest volume since November, 20202 Divergent low on indicators Low level bullish crossover on PPO Oversold reading on RSI Successfully bouncing on the bottom of the descending channel (yellow line) Above presented pretty objective long entry with stop right below the bottom of the channel. Where does it go from here....? Higher. It is testing the resistance from the bottom. It may blast though it or pull back to the resistance and push up higher. If it does pull back to the support or breaking out of the resistance will present another objective places to add on to the position. Next few targets are posted. It may depend of where the market goes in general but the swing target is the top of the channel (purple line). It will depend on how it get there but if it gets there pretty quick, taking a profit or reversing to short would be a good option depending on the trading style and expectation. Have a good trade! T.
NASDAQ:BYNDLong
by TK0421
LMND. This Insurance Disruptor will DOUBLE in the Next 3 Months!NYSE:LMND is the new and promising tech company in the insurance market. It's beyond promising; it's already a product with proven scalability and disruptive features to the aging insurance business model. Lemonade follows a creative insurance model. To understand this, consider the conventional insurance business model where companies are incentivized to NOT approve claims of their customers. That's because less money given to customers means more profits for the shareholders. This places you, the customer, and them in a constant state of dispute. It is a flawed business model. Lemonade flips that around and removes the incentive completely by introducing one simple rule. Their profit margin is fixed. They will always take 25% of what you pay. The remaining 75% will be used either to cover claims, or to be donated to a charity organization of your choice. This way, they have no incentive to deny your claim. At the same time, you have no incentive to claim more than what you think is fair because you will be reducing what goes to the charity of your choice. On top of that, Lemonade is a tech company that employs Artificial Intelligence to manage claims. You will be surprised, and perhaps you shouldn't be, how well an AI can catch a fraudster trying to falsely claim some insurance money. This already cuts the cost by a huge margin and allows for faster growth and better scalability. Currently, Lemonade has proven that their platform works and that it can expand. They are slowly covering more areas than just pet insurance and household insurance. They are expanding to more states in the US and countries around the world. And all of that at a minimal cost of human resource. And the brilliant thing is that the more they expand, the more data they will have to train their AI, and the more accurate and efficient the process would be. That is what disruption looks like. It's new. It flips the model around. It works. It cuts cost by a big margin. It scales. It grows before you even know it. Think Apple, Amazon, Tesla. Now after this brief introduction, let's get into the chart. I've drawn this ascending channel a week ago and I am surprised that it is holding price this well. This shows strong demand added to the higher lows in RSI. I believe this momentum will accelerate in the coming few months. I've drawn targets based on Fibonacci of the most recent swing. According to the channel and the Fib levels, this stock can reach $222 by 22 Feb. That's 80% gain in 48 days. I believe that in 90 days, this stock will have doubled, and by the end of the year it will have 5X'd. This is a stock to buy and hold, not a stock to trade. Good luck!
NYSE:LMNDLong
by TechNerdOmar
PLUG Looks Technically Good but a Few Concerns AheadIn this chart we are using the Moving Average Delta (MAD). The MAD calculates the difference between the price and the moving average. Using these two data points helps us see price movements that are normally difficult to see. The MAD may signal a trend change when the line begins to turn toward 0, the steep of the curve represents velocity of the movement. Bull Cases 1) Our indicator is showing a trend change with velocity 2) We are in a zone the MAD has historically considered oversold and has reversed from 3) We have made a higher low while managing to appear steeply oversold on the MAD 4) Possible positive response from president Bear Cases: 1) We established a megaphone pattern which concerns me. 2) Earnings are released Nov 5. and if they disappoint that could severely impact the integrity of our 5 month bull trend. 3) We don't have a lot of support beneath us. 4) Possible negative response from president I'll let you make the decision which case looks stronger to you. NASDAQ:PLUG Indicator: Moving Average Delta Indicator by KIVANC fr3762
NASDAQ:PLUGLong
by jakelikesstocks