Long SBE tradeSBE is setting up for a continuation of the rally after consolidating for a few months.
- The 50 day SMA (green line) is acting as support
- Stock is in a daily squeeze after consolidating for a month and could fire anytime
- Bullish pennant pattern shows potential for a break out to continue the rally
Trade:
- Buy around $39-$40.
- PT1: $53.68 (1.272 fib projection from the recent high to low)
- PT2: $59.00 (1.618 projection)
- Stop loss: $31.65
SBE
SBEhere is SBE, which is in a very good spot technically talking.
so.. there is the long term trendline, and the MA 200, and the MA 50, and the closing triangle with a flat base which usually stop the rise or fall of the stock, and the base of the triangle which is a support/resistance that worked a few times before, so already used and tested, and something that a lot of traders would use too (at least the ones who have been trading this stock from its rise)
as my previous analysis, the H&S pattern worked but was made to squeeze shorter, which today's +10% made them suffer, and about who's is keeping in to short, tomorrow is gonna get a bit more, as the stock will fall to $37-38, which is IN MY OPINION, the BUY THE DIP here.
here, in the daily chart, we can see the long term trendline held all except one candlestick, and that the MA 50 not far.
the weekly here, also show how the long term trend actually HELD all the candlestick since it has been surpassed.
lastly, I expect the price to reach the ATH in the following TWO (2) weeks, at least 55 or 60.
of course, it is my beliefs, so do not trade only on this, and make your own opinion and strategies
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disclaimer: I do not know about the fundamentals here.
SBE - > Chargepoint time soonWe have seen the bottom with the hammer from yesterday and RSI looks oversold right before merge vote tomorrow, February 25.
We are bullish
SBE - Will it break the Elliot channel?After having a steady month of waves, SBE came to the point where it will either break the channel or continue with it.
Switchback Energy Acquisition Corp - Entry PointSBE announced their merger date with ChargePoint for the Mid-February. If everything goes as planned, SBE looks very bullish.
SBE channel bottoming outgood buying opportunity here at the bottom of the channel
looking to hit 50s as short term target and maybe even 60 or a breakthrough past 60 long term
not financial advice
SOMETHING IS ROTTEN IN IN THE STATE OF SBEDoes anybody else see something wrong here?
If the price rises continuously, the volume should confirm it, right?
Well, in this case the volume DECREASES continuously.
SWITCH TO WEAKLY TIMEFRAME, SEE FOR YOURSELF.
And it's not just that.
Look at the RSI and MACD, DIVERGENCE. DIVERGENCE EVERYWHERE.
And also A SCHOOL EXAMPLE OF CONSOLIDATION.
What do you think? Leave comment.
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I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
Every Decade you get one.While everyone is chasing the "next thing" or focussing on short squeezes and pump and dumps... Quietly BNGO has emerged from the depths of penny land. While analysts will attempt to scare you out of this stock by touting a 1000%+ run, and touting it as a penny stock similar to ZOM, a look a little closer reveals the company is just retouching its IPO price from two years ago. This is far from a P&D or a GME Short Squeeze hype play (I am all for the GME play, F' Citron) instead this is a new monetization play with some of the smartest Scientists on earth backing it. Stop and think for a second... Why am I chasing a crowded EV play, its TSLA or nothing, why am I chasing a mature e-commerce play like ETSY or Amazon, why am I chasing a MJ play in a foggy market, why am I chasing a mature fin-tech play, why am I chasing a SPAC above $12. If you are looking for true growth you must search for a market that has yet to be monetized. For the next decade the monetization of the human genome will be the largest growth play on earth. I think we have a winner. It's time to yell BINGO! Sale your car, house, child, sale your body, kidney almost anything you can to buy more shares of this. The moon is imminent. ST PT $25 by March 2021. LT PT $415 by March 2023. FANG will go BANG!
Check out these waves brahLooks like SBE is about to continue through its upward channel on its next wave. Added more today to position.
SBE entry levels LONGSBE is going to close the trendline. If we hold it, it could be a good entry-level for LONG positions.
Entry levels LONG:
$42.73
$38.90
$33.78
Is $SBE ready for a test of $48? Is $SBE ready for a test of $48? Thesis negated below a close of $39.87
Use options to define risk as premium paid.
Suggested options to use: Feb 12th Weeklies $50 calls trading at $3 a contract.
Ready for the next run-up of this leading corp in this Sector!Based on the USA policies forecast and the increased interest in the EV industry, this company will not stop growing. It will just have the normal sell-offs to take profits, but there is enough growth for former and new investors for several years to come!!
SBE update, nice channel up SBE on watch, sitting at the bottom of a channel with lots of upside room to run, under 33.90 could be trouble short term.
important things to keep in mind
1. possible democratic senate
2. push to clean energy with Biden
3. merger with charge point
SBE this is gonna be interesting.
RSI suggests that it SHOULD go down, BUT I do think this thing is gonna break up.
it is because RSI is showing a divergence, a thing that seems to be faked in the last months.
there is also the Head and Shoulder figure, which is usually a trend reversal pattern, BUT I think this thing can be pumped up.
and I say so because most of the signal seems bearish, which is (for me) a "short" trap.
if you want to win against shorter, you have to pump the stock, so the shorter will buy in as long. then you dump it.
again, I JUST THINK this will go up, not sure 100%, but I would bet on it a bit.
I am actually gonna try to buy this thing when it will crash to the lower support if it will, at the end of the H&S.
($40?)
SBE found support at $34After breaking down from the rising wedge SBE found support on the strong level of $34, which is about half of the height of the wedge. It is not finding resistance on the 21-ema, which roughly coincides with the .236 fib extension level. Stochastic RSI is curling up, which shows bullish momentum. I used the Stochastic RSI instead of the Stochastic because it reacts faster and in a situation where the price is trying to reverse it can provide faster signals for quicker actions. This doesn't mean the price will continue to go up but in the short term it can aid in entering/exiting positions.
I have quite a few shares of SBE. I am looking into selling some if we get to $40, where the 50-ema is converging at the time of this writing.
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Switchback Energy Acquisition can go even lower?Switchback plans to close on its merger with ChargePoint in early 2021.
ChargePoint is rapidly growing its charging station network in the U.S. and expanding in Europe.
It expects sales of its charging ports to grow by seven times through 2026.
But investors drove shares up beyond what is reasonable.
Even after today's drop, the combined company would be valued at over $9 billion, triple what the equity value was predicted to be when the transaction was announced. (source: fool.com)
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