UNITY
Unity $U formming a "low cheat"I usually have a number of stocks that I like because of the fundamentals, and I just wait for the technicals to do what I like. This time NYSE:U is doing it in a very good way. The price is not yet above its MAs but it has a strong divergence with the MACD and the ADX is below 20 points, all this while formming a "low cheat" which is like a mini "cup & handle" (I learned this reading Mark Minervini).
Normally the "cup & handle" pattern is one of the best reversal patterns, adding this with the other technical signals I think this stock is close to a buy point. Still, for my strategy this setup is high risk. I always wait for confirmation with a second base. IBD has NYSE:U in rank 7 in its industry, and a realtive stength rating of 37; not my usual stock.
The thing adding to my optimism is that breakouts have been working better for the last 2 weeks. I even missed a few stocks because I was being cautious. With this one I would add just half my position size and if it goes my way I'll add my full postion.
Unity's Squeeze-Price Inflection oscillation tied to EarningsPremise:
Convergence probably occurred before initial jump to ATH (not drawn)
2nd convergence noticeably begins around the time Momentum Squeeze kicks in for the buildup to Q4 earnings report.
Momentum at breakout was BEARISH, despite P/L changing in the positive direction (earnings much closer to estimate than in Q3)
If this performance holds up, Unity's stock should be competitive against established entities (see background: 700 and ATVI) in the gaming market which looks poised to resume an upward trend.
One Possible Scenario:
The last 2 weeks in March are showing the beginning of a 3rd convergence; will keep updating to see if this pattern holds up.
A new Squeeze indicator along with past experience suggests it will, crucially timed to the earnings release on May 6th.
The sine wave shown here in purple is not meant as a trendline projecting the stock's price level at some point in the future but is simply an extrapolation of past inflection points to identify at what point along the new growth curve the stock will be if and when Momentum breaks decisively in the positive direction.
My conclusion is that Unity will probably continue trading in its current range for some time, possibly even taking another downward turn this month as public sentiment on the stock has been increasingly bearish as its clear it isn't poised to rocket back to 150.
That would be the time to buy and hold, if the enthusiasm for Unity among developers is to be taken seriously, or at the very least, place your May-21 calls.
Unity Software AKA U has a great potential and RRThe current price bounced from 0.786 Fib level (Daily) and yet to fill the gap at $148 zone. In my opinion they are a long term buy. also broke the trendline plus double bottom on daily.
chart says it all, they do have earnings announcement in May.
$U - Unity: Beaten up, but determined to go LONGI like $U. I like the stock. But right now, it's getting beaten up. I'm looking to go long.
Unity might be a good entry now
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
$U Time to long UnityUnity seems to have finished an a-b-c correction wave after earnings and seems to be on course to new highs. I wave 2 has been put in to the T of these fib levels, then we should see 180+ by the end of August/September.
LONG UExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
LARGE CAP - SOFTWARE - TECHNICAL - SOLID GAINER - Unity Tech $U U has been a very solid performer in my portfolio, and I think now is a great entry point!
Today Cathie Wood added 195k shares for ARKK. Her buy is a great alert as any. She owns about 5M~ shares across her ETFs.
FA:
- One of the 2 kings of animation software. Until Epic Games (Unreal Engine) goes public, U is basically a tech monopoly.
- ER in 83 days
TA:
- Nice support level, at 0.5 Fib
- Bottom of Bollinger
- Made morning star reversal candle
- MACD converging, signaling bullish reversal
- RSI oversold, U never stays at these levels for long
- Nice ratio Gartley
- Gap to fill to 150~
Bear scenario:
- Looks like it can possibly go down to 0.382 Fib levels depending on broader market conditions... around 106
Strategy:
- TP1: 150
- TP2: 175
- SL: 86
- RRR: 1.77
- Timeframe: 83 days
- Long term PT: 240+ EOY
The RRR isn't too great, but I post this because this is such a solid hold IMO. My friends and I all love this one. GL and Enjoy!
Unity, not a good entry point for now but good in the long run NYSE: U
Unity, not a good entry point for now but good in the long run
$U Ready to bounce?After a tremendous uptrend right after it's IPO, Unity was sold off after ER, probably consolidating and preparing for a another move up. If the gap above is reclaimed, and if both key fib levels end up working as support, then last week's Friday candle was the golden cross, ready to long $U again. Need stronger confirmation on the bounce, but this could be the end of wave C, ready for wave 1.
Unity - Trendline No:1 or No:2 🤷♂️🤔-After an interesting week full of good news, Unity settled down around $125 (-15%). Although EPS $(0.10) Beat $(0.14) Estimate, Sales $220.30M Beat $204.23M Estimate and ARK purchased shares of U after drop, it didn't show us a come-back immediately. For a week already it has been testing the deeper deeps with slight drops.
-We came up with two trendlines for you, our followers! Our company believes in the first trendline and we are very bullish on this stock. We bought 4 ITM call options and bought some stocks as well on the very first day of the drop. We see the current price as a good entry point.
-In case if the downtrend continues, the potential support points would be: 99.27, 93.89, 87.10, and 82.15.
Unity Software - TrendlineHi Everyone!
One of our top picks for up-coming weeks is Unity Software Inc (U) with a surprising 14% drop on Friday. Here we tried to show a trendline for a 6 month period where we clearly can see that Unity followed it for a while, then it been overbought and now it is coming back to its normal flow. We can confidently say that an entry from here would be safe.
Is $CRWD ready for an $ABC correction to $195Is $CRWD ready for an $ABC correction to $195
CRWD is definitely a leader in its space but this run looks a bit extended and exhausted along with a potential corrective wave to $195.
Use options to define risk as premium paid.
Suggested options to use: Feb 5 Weeklies $200 put trading at $4 a contract.
