TKATTakung Art Co Ltd (NYSEAMERICAN:TKAT) is looking good to me with all this NFT hype. I'm very pleased about how the stock has pulled back to its major support zone after its large move in the middle of August. For the coming week, a breakout above the 8 level would signal the start of a new uptrend that could potentially test the recent highs around the $14 area. You do not need much digging to see that the stock has very strong bounce potential here JMHO On watch.
TKAT
$TKAT Pumps Up in Thin August ActionTKAT: It's late August and the market is thin. It's practically holiday trading. What better time to find stories and ramp the NFT stocks! Hey, maybe it's real.
But probably, given the situational dynamics, this is unlikely to have real staying power here.
$TKAT for a 3rd green day?And the thing about AMEX:TKAT is that the vol of previous 2 days was so huge, that it can continue to rip. Risky, but fun. Potential PT: 17 and even 22.
Why I make such a conclusions?
The answer is avg volume. I take 2 pink lines: longer one comes from the previous vol spike and shorter one comes from 2 days back, when it started to rip. Current price is above 2 of those levels. We've got support, which coincides with pivot (green line) at 9.20. I've set an alert at this level and gonna watch price action closesly. If the price won't fail this key level, I'd start to buy. Keeping in mind that this is a risky play, not big size this time. Let's see
TKATTakung Art Co Ltd (NYSEAMERICAN:TKAT) Keep this one on watch, it could be setting up to break out of this rounding bottom base. Go long when it breaks on heavy volume. The $6 price level should be used as a stop.
$TKAT bull run next week?If you missed the $TKAT and general NFT craze from a few weeks ago, it's back. $TKAT has had 3 strong days and now closed kissing top of Keltner channel closing up 36.65% :o
Generally I don't like to enter swing trades Friday afternoon or after such a strong green day, but made an exception here due to the potential for an explosive move next week. $TKAT did this before on it's insane March 15-23 run. On the daily we see something looking like a Bull Flag Breakout. Resistance free to $46. If it breaks though that with force I think there a shot at breaking all time highs at $74 to who knows where.
Trading these guys is tough as they jump around A LOT, up to 40% a day. If you're only into FANG and fundamentals, this is NOT for you. I'm trying to be careful with my risk management and hope you will be too. This is very low float and with 42% insider ownership, so if they hold we're good, if they dump... well not so much.
Any thoughts on all of this? Agree? Disagree? Please let me know. I want to hear your analysis. Any tips on holding through gut wrenching pull backs on this kind of trade and timing the exits would be appreciated..
$TKAT back on the radar Day Traders Delight For you guys who missed this a few weeks ago, this may be your chance for a righteous moonshot. It's a slippery rocket so hold on tight.
I'm going to wait a day or so for confirmation before entering a swing trade. Ideally I'd like to see the Heikin Ashi 1D kissing the top of the Keltner channel and go for a 1-3 day swing trade with phenomenal risk/reward.
Day traders delight! Scalp away.
TKAT Inside day after pulling back to demandThe NFT fever have been calmed down a little bit in the past few trading days.
Leading name TKAT pulled back to the daily demand zone, and formed an inside day yesterday.
I would love to trade the inside day breakout though.
Let's see how it goes yo!
Limited NFT stocks; Unlimited imagination!TKAT stock has soared 1000% within 5 trading days as the NFT concept keeps on rock & rolling.
My view on this kind of rally that based on hot topic is:
"Try my best to get on the train!"
Indeed, it would fluctuate a lot that stops so many intra-day trades out.
while this is exactly what we traders are looking for--- momentum!
With abundant momentum, I'll be willing to look for trading opportunities with tiny risk to get involved in the long position.
Of course, a solid trade setup is always crucial.
Even if I don't really find a nice trade to take,
focusing on this name could also be a way to know how the market sentiment on NFT is.
Let's see how it goes yo!
TKAT- Gamble on the NFT crazeGambling on TKAT is in a way not much different from gambling on blockchain stocks back in 2017.
Anything digital is a fair game in the realm of NFT as even tweet was up for sale as Jack Dorsey demonstrated that today.
TKAT's Insider ownership is almost 50% and TKAT's institutional ownership is close to zero, indicating the high volatility this stock possesses.
Volume has retraced more than 66% since it reached its record on Wed. It seems to me that TKAT is at beginning of the distribution stage.
Short interest is low and market is irrational so I'm not ruling out a modest correction followed by the continuation.
Game plan: Market buy 1/5, then fill out the rest in the demand zone.
TKAT is volatile. DO your own due diligence. Not the investment advice.
$TKAT SOARED! WHATS NEXT?!Video breakdown on $TKAT after a parabolic run! Filled at 7.50 for an amazing run
LONG TKAT @ $.6954 for Chinese Internet (KWEB) UpsideTechnical Analysis:
1. KWEB (Chinese Internet ETF): Expect a relief bounce here for Chinese Internet stocks ( BABA BIDU JD ) with a Hong Kong ( HKDOW ) & Shanghai ( DJSH ) market rally.
a. Holding 200weekSMA and 50monthSMA support here at $44 with record volume twitter.com
b. Very oversold on weekly timeframe
c. Strong price support at $41.00
d. 4/24/18 gap filled at $43.53
e. Possible reversion to mean: 2018 Chinese Internet % Total Returns (negative) very divergent from US Internet % Total Returns (positive)
2. TKAT (Takung Art Co) showing strong correlation with KWEB with more volatility, conveying a higher beta to Chinese markets. This will result in exceeding KWEB’s % gains on upside price movement.
a. Potential price double bottom $.63-$.68
b. Extremely oversold on weekly/monthly timeframes
c. Daily RSI uptrend from 29 (8/9/18) to 34 (10/11/18)
d. Large accumulation volume on 10/2 and 10/12
e. Testing 10dayEMA @ $.75
Fundamental Analysis: TKAT - Takung Art Company:
1. Takung Art Company fundamentals convey undervaluation and thus provides great risk/reward for China Internet/Software market rally
a. Price to Book = .49
b. Price to Sales = .61
c. Net Current Asset Value = 1.24
d. Cash to Debt = 1.43 – Strong cash position to outlast market downturn
e. Poor 2018Q2 and 2018Q3 earnings coupled with an overall bearish Chinese investor sentiment already priced into stock price
f. Company is expected to resume Listing Revenue (primary revenue stream) end of October – temporarily loss of revenue could be short-lived
g. Company plans to reduce G&A expenses by 10% in 2018Q3
