Squeeze
$SPY Update, Rising Wedge BrokenAs you can see, the market seems to be anticipating a negative FOMC meeting today, as a result, the rising wedge pattern we have been in has been broken. I expect this to retest $420 area short term, a long term wedge break would be below the $420 level, which in my opinion would indicate a macro correction near $380 levels.
$RBLX Still LONG Despite yesterdays sell off with news to near the $80 level, we see buyers entering this morning raising it nearly 6 points giving me confidence for a longer term reversal. Still expect to see 100-110 price level in the next 4-6 weeks. targets as well as support and resistance are trend based fibonacci extension levels as shown on the chart.
make your $WISH*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
My team discovered $WISH a couple days ago. We first heard of WISH when a friend made a joke about how cheap $WISH products were. The name sounded familiar but we had zero clue that it was an online retailer until he explained it to us.
Perhaps we didn't know because we live under a rock, or maybe we're too busy making money instead of spending it by shopping online. Regardless, we still see the appeal of $WISH, and we wonder just how much of its market still remains untapped. If none of us knew what $WISH was prior to a couple days ago then maybe...just maybe...this is just only the start of its rally.
$WISH is also a meme stock apparently. My team has never traded meme stocks prior to this post, but that doesn't mean that we're opposed against them. Our issues with most meme stocks dwell in the overvaluation of the stock...but we suppose that's the whole point.
$WISH is a rare case however because it ACTUALLY looks undervalued to us.
We're long.
entry: $11.30.
take profit: $18
stop loss: $9.50
If you want to see more, please like and follow us @SimplyShowMeTheMoney
$TUP Inflation Play *This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
My team entered into $TUP on 6/7/21 at $25.34 per share. $TUP now sits at $25.93 after correcting from its previous 52-week high of $38.79. We plan to take profit at $33.00.
My team considers $TUP to be trading at a bargain price. With further inflation data being released on 6/10/21 $TUP becomes a fairly safe bet for a short-term rally.
If you want to see more, please like and follow us @SimplyShowMeTheMoney
$PINS Update, Slow and SteadyPinterest slowly creeping its way back up to fill the gap near the $76 level. Still long.
$SPY Tread Lightly, How to Hedge AccordinglyA weekly Long term SPY chart can tell a lot, would not at all consider myself a "bear" but I do think that people should be aware of not only this chart but a lot of the current factors and economic situations we are in right now, from chip shortages, lumber prices, to inflation, the reasons to hedge accordingly against a correction continue to show everyday. Patterns like to present themselves in strange ways.
We can look at SPY ATH from 2018, to its low in December 2018 and show retracement levels respectively. From the lows, we saw a 161% retracement from ATL's and then a correction. Considering where we are now, from ATH's in early 2020, to the lows of March 2020, Spy has retraced yet again, 161%. Obviously the correction was not purely technical based, because of the pandemic, but I do see continuing reasons on why as a whole the market is "overvalued". A healthy correction IMO is imminent, timing it is the hard part, I think we can see a continued SPY run towards 430-435 range, but at that point I would monitor positions closely and have cash ready.
Hedges for me makeup a small percentage of my portfolio, but i will continue to allocate profits from short term swing trades I make towards these hedges. Hedges can be as simple as inverse SPY ETF's, to commodities, to long term options positions. In my opinion, and for my investing strategy, the hedges I am using and will continue to add to these positions as we move higher are the following:
$GLD Call Options 6M-1Y Expirations
$UVXY $40 Call Options with various ranges of expiration dates, as early as July and late as December
$IEF 7-10 Year Treasury Bond Yield ETF Call Options
$PLUG Important Price Level PLUG looking to make its next move that will be determined by the price action in the coming week, we have a very decent bullish setup with a nice trading range that gives solid risk rewards profile. As you can see we have multiple areas of support and resistance and are currently sitting on the $31 support level, a very important price to hold. More bullish sentiment is a bounce off its 200DMA that can carry this higher short and long term.
In the next few trading days we can expect one of 2 things to happen. Holding 31$ and a push towards $35 again would indicate a long term downward channel breakout attempt. ADX supports the movement and breakout as well. Second thing that could happen is market isnt ready to take this higher yet, and we see another retest of $25 range to form a double or triple bottom for a breakout in the future. Watch closely.
$RBLX Retest $100 Short Term RBLX with a decent swing setup here back towards $100 short term, support on top of the previous resistance level showing a solid reversal on a 4HR chart.
$SNAP Looking to Retest ATH As I updated a short while ago, snapchat did in fact break out of its trading range pushing near the $64 price level, and since then, had a healthy and expected pullback that found support on the top of the channel which is a bullish signal IMO. The price action in the next 2-3 trading days will determine if the market wants to take this higher back towards the $70 range which I believe will show strong momentum at the open tomorrow. I previously had a position in shares, but will instead be doing a multi-legged call position to maximize return. According to the price action in the morning tomorrow, positions I will most likely take are below. GLTA
6/25 $65 Calls
7/16 $65 Calls
7/16 $70 Calls
Not financial advice.
$AMC Bull Wave Incoming?AMC printing a descending triangle, which would be bearish if this pattern was within a downward trend, but this is a bullish formation since we have been making ATH's. My previous idea thought we were forming a bull flag with higher lows, but it was broken which I believe was due to the GME earnings sell off that affected all "meme stocks" as a whole. MACD Looking to make a bullish move, as well as ADX & DI looking for its next bullish expansion. watch for a breakout.
Rinse and Repeat ... at EVER HIGHER LEVELNote how this is an exact repeat of late-March. Seriously, E-X-A-C-T.
Earnings => Price Collapse => Recovery. (Yes, doubters, recovery has already started.)
Let's review the steps:
Earnings
How it went: March was okay (not good, not bad) news.
How its going: This time the news was decidedly positive and promising - fundamentals improved, L/T debt retired, turnaround plan in place, board REplaced, RC established as King/Chair, outlook very positive.
Price Collapse
How it went: HFs chopped ~40% off price.
How it's going: F-ers shaved ~35% off price. Just. Like. Last. Time.
Recovery
How it went: Have you not been paying attention Apes?
How it's going (to go): Do you really think it's going to be different this time ... WHEN THEY STILL HAVEN'T COVERED?
What is different between these two events?
Apes start $100+ above (80% higher).
Apes learn much in three months.
Apes developed wrinkles.
What's not different? It remains that ...
Ape Together Strong.
$CHPT June Update*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
My team has been swing trading EV sector tyrant $chpt for the past couple months. In this time-span it has continued to bounce from its $20 support zone . The potential is undeniable for an established EV company like $chpt. There is also an impressive amount of option calls which suggests bullish confidence.
We recognized the bullish price action of $CHPT and averaged up from our original entry of $22 at $24.35 on 5/30/21. From their the price moved further up and now rests at $28.31.
My team has increased our previous take profit target of $31 up to $37.
$CLF closing in on the finish line*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Recap: My teams original entry for CLF is at $13. We averaged up on 5/23/21 at $18.06 and now the stock currently sits at $22.57.
Our first take profit remains at $24 (which should hit fairly soon). Once we reach TP1 (take profit 1) we will trim our positions and then close the trade at $27.00 TP2.
Congrats to those who took this trade with us.
If you want to see more, please like and follow us @SimplyShowMeTheMoney
AMC Mighty Bull Flag - Drop or Fly?We are forming a clear bull flag on 30 min chart on AMC
AMC is showing all the signs of a flag, such as gradual decrease in volume, and flat RSI.. indicating a trip to the moon or back to Earth soon.
Levels I am looking at:
Entry: 60.00
Stop Loss: 51.68
AMC has been very volatile, so I am sitting on my hands as much as I can before one of these levels are put to action. Possible puts if we drop below "Stop Loss"
$GME Hitting that $300 as Predicted$GME surging through that 61% retracement level, holding here with continued squeeze momentum sends the next target to $400 being the 78% retracement level
$AMC #AMC TA prediction for today and next days and some extraTA on 1 hour candles:
After some consolidation in this flag pattern , bullish pennant , it seems the price broke trough and have retested the upper side of this pennant in the last market hour yesterday. Today is probably where we going to see a nice jump. normally it can go at least to $65.46, where the candles closed and opens at the last top. From there we see the top of the spike around $72/73. Between this area the price can show some consolidation, before a bigger jump into the next Fibonacci levels.
Important levels are around $80,- and the most important is at $98,-, the 1,618 Fibonacci level.
Good to keep in mind is that all the attention for $AMC leaves all the old fashion E/P investors/traders in the shade, there is something that gave this stock a great push and I think, like I've said before, we are just at the beginning of something that probably never happened before. At least not in this size. That is the #Apes. What started with only a few guys is now a global group of people. People, most of all retail people who never have bin in the stock market before, from all kind of backgrounds and all kind of race, color, gender, politic. It looks like all these different people are more united then ever before and we only could hope for.
The biggest fuel of this group of people is the unethical behavior of the big players in the financial sector. This group of big players know naked shorting is illegal and most of all unethical, but justify there behavior because of some loopholes in the system. Of course these Apes want to change their lives and are also hoping for gains they have never seen before, but the biggest fuel is the need for change. Change in how wealth is divided, change in equal chances for people, change in how misbehavior will be penalized. No longer just a fine for making millions or billions, despite you know it's not correct and unethical what you are doing by nakes shorting a company aiming for bankrupt and putting thousand and thousands of jobs on the stake for the average Joe.
The game need to be changed. The financial game need to be changed. And the time is now. We've seen how things can workout when the system keep doing what it's doing at cost for the working class. Do I have to remind there was a French Revolution between 1789-1799, all because the working class were more then done by being pet by the small group who had control over their lives. I sure do hope we never will see that again! And hopefully this army of Apes can help to show that things need to change. Occupy didn't made it in 2011, but the idea is the same. The (financial) system is corrupt and is not working for all the people, like it should be.
I'm no financial advisor and this is not financial advise!
But I do recommend every one who agrees with the fact that the financial system need to be revised, and most of all prosperity can there be for every single human on this planet and not only the happy few, please join this fight and buy an $AMC or $GME stock, because these 2 stocks are the main focus of these millions and millions Apes who buying and holding for a good cause. It's really simple, no Technical or Fundamental analyse is really needed. Both companies are doing fine and with re-opening after Covid-19, there is no reason to assume these companies are going bankrupt. Bankrupt is the only way these stocks are going to $0,00, the thing these hedge funds are aiming for, so they don't have to cover their naked shorts and buying the stocks. As long the Apes are holding and keep buying these stocks, the demand will grow and one day the supply is gone. We all now what a higher demand and a lower supply will do with the price...
AGAIN, all above is NO financial advise, nor am I a financial Advisor. But I am an Ape, i am holding both stocks and I really do hope Apes can show the people who make the regulations and law that there need to be big changes. The rules which came in place after 2008 are nothing more than a facade. The unethical games and injustice against the working class are still going on. And guess who paid for the 2008 crisis? It was not the financial market, it was you and me and our families. It's time that the real creators of this mess paying for it.
#TrustTheProcess
#NotTheSqueeze
#AMCArmy
#GMEArmy
#NakedShorting is ILLEGAL and should be penalized with JAIL and not with a fine!
$BB Update, Predictions based on Fibonacci LevelsAs I posted the other day, I expected BB to make a move to its next fibonacci zone near 22.00. Resistance was met at the 61% retracement level and it got shot back down to its 38% retracement level after failing to hold the 50% retracement level (15.60's). Bouncing off the 38% level near $13 could give us 2 paths as I show on the chart. Need to break through that 50% Retracement zone for continued momentum and strength upwards. Trade around the Fibonacci zones, and see what works for you. Once you find a price on either a 4 hour or daily chart that you find appealing, once the price is around that level, switch to an intraday to execute the trade based on the best price and entry for that day. GLTA.
$BNGO Update: 57% Gain Since PostWas simply looking for a retracement play on this one, and got what I wanted, some resistance at the 38% retracement level, and I have to be happy with 57% gain so I closed half the position. This can definitely go higher, and has the room to do so, so trimmed half of my position accordingly.
Next price levels to watch, 8.60 to $10.00 range
$CLOV Update, Important Current Factors Finally popping like it deserves, options playing out nicely with this one. Very important that we hold around this 10.50 level being the 38% retracement level from the ATH in January. I would like to point out that the short interest is 31% of the float, with insiders not being able to sell shares until $30 a share. There are plenty of really informative DD posts on reddit that I fact checked myself that give all the in depth fundamentals, so I will link those as well.
Link:
www.reddit.com
As of technical's, CLOV showed it could easily break though that 38% retracement level reaching a high today of NEARLY 11.20. The fibonacci's dont mean panic sell if it dips below 10.50, this is a daily chart, so with a close over or around 10.50 today, this would give me a lot of confidence in this reaching the next Fib zone which I highlighted in purple near the 11.86-12.00 range. 10.20 is support for the day today, 6/7.
According the research that I conducted myself, as well as others research, nearly 90% of ALL shorts are in LOSING positions around the $11 price range, which can potentially mean gamma squeeze.
The company itself has strong fundamentals which are highlighted in the reddit post I linked, once market share is captured and has even a fraction of the what other insurance companies have, this trades near $100 easily IMO. That is WITHOUT the squeeze potential.
Fib Zones with my targets, as well as support and resistance accordingly.
Z1: 6.35 - 8.95
Z2: 8.95 - 10.57
Z3: 10.57 - 11.89
Z4: 11.89 - 13.20
Z5: 13.20 - 15.07
Z6: 15.07 - 17.45
Positions purchased June 2nd:
6/18 $10 Calls
7/16 $15 Calls
8/20 $30 Calls (Leaps)
TELL is bullish with plenty of resistances ready to fall.Not only is price action huge compared to normal, the bull flag forming on the daily/weekly chart is clear indication of a strong bullish stock.
$BB Looking Bullish for $20 Move Tomorrow This is a 45 Minute chart, take it with a grain of salt, but looks like a bull flag to me, interesting to see how this plays out tomorrow with AMC price action practically being identical to this.
