WISH Looks like SNAP during bottomJust for fun.
Blue candlesticks were copied from SNAP during its bottom in 2018 market correction.
Do you guys see any alignment?
Wishstock
Inverted Hammer closeNot a financial advisor.
WISH FINALLY sees a reversal candle.
*Sigh of relief*
Now we gotta see a confirmation *queue Jordan Peele sweating gif*
😂
I have a previous post that has much more information vs what I'm going to write here. This should be just a real brief update.
Filing the gap is what I'm pretty sure most are interested on here anyways.
I'm trading WISH, Short term I'm looking for $10 price target which would be a little over $9.50 100 ma on daily.
I do also have a price target of $16.35 mid term. Fib.
I believe a big break will happen after $7.75 (hope to gap up /halt) maybe after $8.12 hits and holds. If this does happen to halt I'm looking for this to get closer to the $15 dollar range. Would potentially look to reverse after that and maybe gain more momentum after a dip.
First things first though, lets get this reversal confirmed. If we happen to explode really quick, I'm sure we will see some profit taking at 10, 12, 15.
Breaking out of this long term wedge could lead to a rapid movement. Trade your plan.
RSI oversold
Momentum starting to pick up
Bollinger bangs squeezing awaiting movement
WISH we would gap already.Not a financial advisor.
I post my thoughts.
So the daily candle wasn't an idea close, personally I was hoping to close over $7.51.
I do have a previous post stating that WISH is coming out of falling wedge pattern - or nearly out of a falling wedge
We saw a textbook Shooting Star candle, rise in price and don't close the day strong - sellers get the price to drop a little more than we wanted at the end before close. However that doesn't necessarily mean we go down tomorrow.
Something to watch for is 9/7/21 day high to break. If it doesn't we will likely see a continued downtrend, due to the previous day doji. If it breaks above todays high, well then we most likely saw a false reversal.
Overall, I'm bullish here longterm. Short term presents many risks, so for those willing to enter must know that this isn't an ideal set up.
I entered nearly 2 weeks ago after a reversal. Tomorrow is an important day for WISH. If price confirms down trend watch for a reversal to close the week. If we break todays high watch for this to possibly gap up in the short term. (I am bullish short term - just mentioning both sides)
I do personally think due to the current state of the weekly candle, that we continue to see uptrend carry over this week. However other things in the market could also lead to WISH having a shake up this week. Watch the NDAQ, I believe that finished with a bearish candle for the daily chart. Could lead to a shake up in WISH short term.
Remember this is a high risk currently, so trade or invest with caution. I expect a lot of volatility in the short term.
I'm trading WISH, Short term I'm looking for $10 price target which would be a little over $9.80 due to the 200 MA on the (4hour char)
I do also have a price target of $16.35 mid term.
I believe a big break will happen after $8.12 (hope to gap up /halt)
Important numbers I'm looking for $7.75, $7.88, $8.12, $8.42, $8.95 and more.
RSI 42
Stoch dragging across the top on daily, Ideal for strength to follow.
Momentum reached positive levels yet low
MACD bullish
Good luck to all here, curious to see how this plays out the rest of the week. I am looking to be here long term, trading momentum throughout the process.
Feel free to comment your thoughts. All ideas welcomed.
WISHWish (NASDAQ:WISH) is a stock that could head higher from Friday's close. It is in the process of bottoming and I expect a pop above $7.75 at some point in the coming weeks.
WISH I dont know how I feel about it but Seems like a good short term play. Could do what SDC is doing. This one is all about timing.
Look at double bottom and rising RSI.
One of the most mentioned stonks on Twitter and WSB. Will it run? I'd like to see that gap fill first, holding small position.
WISH Another Squeeze Could Come SoonWe can see wish have been trading closely below the resistance line recently.
Last squeeze it did the same and was able to break the resistance.
Lets be patient and see what will happen.
Wish i have an eye on youImo the upcoming months till the EOY will be the most critical in Wish history as a stock.
Key points
1. 12 months from IPO date (meaning towards EOY) we have a new lock up period for earlier stage investors, do you think they want to sell at 7s even if the company is sinking i think there must be a play first with so much retail eye on it as well.
2. Are all the bad news baked in the price? and was 6s a big bear trap? around end of September i think we will know.
3. Awaiting some major app changes/ business model changes / new CFO
4. Retail is still buying and holding as i read all over the internet, that's a (-) in the short term price action no matter the technicals and fundamentals.
Major scenarios in my mind
1. Wish is sinking and this will become a zombie company and we all felt in the trap, no hard feelings can happen to anyone, take your losses & lessons and keep walking.
2. They are about to sell it to one of the big guys for at least the IPO price imo
3. They are about to turn the ship around
Now if the case is 1. and taking into consideration that WSB retail has an average price between $8-12 then probably you are sitting on at least a -50% decline ( PAIN )
If the case is 2. then the potential upside is 3-4x
If the case is 3. the potential upside is at least the ATH meaning 4-5x
What are the probabilities in favor on 1 vs 1&2? Do your DD and decide...
*This is not an advice to buy or sell, just random thoughts from a person who started buying wish at 8s before WSB mania and Zack Morris pump.
$WISH = GREAT DISCOUNT BUYTechnicals are solid. Fib Retracement looks prime. Smallest retracement I see possible is $12.55, current price $6.63.
The bull case for wish I do not want to get into details about fundamentals etc we all saw wish quarterly results but with some much retail in this stock i was expecting a huge decline, the fact that retail investors all over the web are so pissed about wish and start panicking and exiting their positions is a + for me as i hold a long position.
Now there are some interesting things i want to point out.
There was a Wish pump on reddit based on the story that there is a 50% short float, which led to a 100% increase in price in 2days!!! at the same time Peter Thiel's founders fund start liquidating their positions together with galileo and temasek holdings which all were VC's that were with wish from the beginning. (www.nasdaq.com)
Now why did these guys sold?
1. They already had a good return on investment since they were wish first investors
2. With so much publicity on wish stock and the pump to $15 they had they chance to sell so many shares instantly (insane demand from retail)
3. ***I am not sure about this one but a general rule of thumb on VC's is that they sell roughly 75% of their shares when a company does IPO. (makes sense because they need liquidity to look for other Startups)
Now let's look at wish itself and where it could go from here.
1. We have rsi divergence on daily chart
2. Macd is higher than the previous drop
3. DMI is also in divergence
4. The company is worth right now $3.9b with $1.5b cash and $2.5-$3b in sales
5.They are losing users which is a very bad sign long term but even if they decide to close the business they could easily sell it for 2-3x sales meaning a market cap close to $8-10b
6. If they were to go bankrupt as many people say why did they hire new C level people , why did they spend so much money on logisticis and why did they get a banking license in Europe ?
7. I hear a lot the phrase "wish sells crap" well what most people that play the markets do not understand that wish customers are the majority of the population out there, what they do not understand is the fact that people are looking to buy cheap things from china because they do not have money to afford buying from amazon,etsy,shop etc... There are no wish buyers that trade stocks, this is the one thing you all have to understand! Wish buyers are people who used to buy on traditional brick & mortar, on illegal sales on the streets , on chinese stores etc.. These people have started to explore the web with Covid and still do not have much presence online as customers of amazon and others.
8. Wish #1 competitive advantage is that even people who never bought from it have heard about it. If they manage to improve delivery times and merchants quality they are about to address the largest % of the population out there.
9. Even if they do not manage to do that , even if they drop to $2b in sales , even if they are about to get out of business i cannot imagine that there is no one big player out there that is willing to buy them for a mediocre multiple of sales.
10. IF they execute right i believe this is easily a $100b+ company in the next 3-5years stop whining and either sell and admit you were wrong or hold tight and wait.
WISH ContextLogic accumulation areaWISH had an IPO price in 2020 of $24 and now the price dropped to 7.55usd.
ContextLogic Inc. (WISH) financial results or why it went down:
The good:
Revenue per Active Buyer was $22, an increase of 21% year-over-year
ProductBoost revenue increased 11% year-over-year to $50 million
Logistics revenue in the second quarter was $228 million, or a 126% year-over-year increase.
The bad:
Marketplace revenue decreased 32% year-over-year to $378 million in Q2
Buyers during the quarter declined 44% year-over-year to 17 million
Monthly active users declined 22% year-over-year to 90 million
Active buyers decreased 26% year-over-year to 52 million
Cost of revenue for the second quarter of 2021 was $272 million, a 31% year-over-year increase
Q2 gross profit was $384 million, down 22 percent year-over-year.
On 8/13/2021 Analyst Stephen Ju from Credit Suisse Group Lower Price Target for WISH from $24.00 to $19.00
WISH Reversal on 30 minute. Awaiting confirmation.Not a financial advisor
Mentioned this one last night that I was watching for a recovery today or next week. Have a reversal here on the 30 minute. Waiting on the next candle to confirm that this is indeed a reversal.
RSI tremendously oversold here.
Stoch is perking up signaling strength and potential rally here today. Could see $8's fast today.
Momentum is perking up as well.
Worth watching here.
I like this entry short mid and longterm.
The Swop.
WISH Bullish 📈WISH is looking bullish as it formed a nice double bottom on the 1hr chart, I believe we should see the neckline break (white line) after the consolidation phase from the resistance break we should see another break on the yellow resistance line.
Play this right, this is a great long-term stock which is what I'm using it for, however, it can be a very good swing trade also.
Retails patience waning, almost time to flyTechnical analysis:
Clearly a larger harmonic structure at play here. There's no telling yet what exactly is forming, but I outlined a Bearish Bat pattern to 1) give me hopium that selling will end around $8.15 and 2) with COVID, it's only fitting the chart would form a bat.
We've been in this descending channel for the entirety of July so far. I expect this to breakout and turn sideways until early August, where I then expect us to start making higher lows. I expect price to rise to $12 in August.
Fundamental analysis:
With the delta variant spreading, we could potentially see another lockdown (rare), and that would expedite this trade as ecommerce will once again lead the way.
WISH might hire a new CFO with commendable credentials and the market might react well to it.
WISH might announce a very good Q2 report on August 11th and once again prove its value.
How I am trading it:
I am already deep into WISH as-is, but I am looking to add more here and around $8.15 and lower if I can get it that cheap. I do not plan on selling this company as long as it's fundamentals stay true. Long term target: $28
This is not financial advice.
WISH: Divergences GaloreWISH is showing MACD and RSI Divergences on the hourly chart. Russell 2000 is resting on the confluence of 6-month and 16-month support trend lines. Primed for a nice bounce next week.
Who's WISHing for a Retest?WISH simple fib retracement using recent lows revealed some levels on the chart. The 786 fib has been a relatively frequent area of traffic for the stock. Meanwhile, 618 fib line was previously a level of support the continued to get tested but didn't break until recently. With WISH testing 618 as short-term resistance last week and 786 as potential support on Friday, it will be interesting to see if these levels remain the channel for WISH if/when it continues this consolidation trend.
Other than the usual social media excitement, also take a peek at the filings which should show the latest Form 4 coming out last week (7/15), which revealed that Brett Just Chief Accounting Officer, sold more shares. This adds to the growing number of Form 4s that have shown selling from insiders.
$WISH Bulls Bulls Anticipating Strong Reversal $WISH Bulls looking for a reversal after the stock tested higher lows first established in early June and following a move from one side of the Bollinger Bands to the other. Confirmation of the "double bottom" could set up a big move to the upside based on an ELLIOTT WAVE "C" expression with a price target above $15.23.
Fundamentals (which have been improving during the recent run given numerous key bullish news developments) are about to meet "oversold" oscillators and strong Elliot Wave counts.
Wish retail about to give upIMO we are running an irregular/expended abc correction after the meme frenzy with wish. In combination with real meme stocks crush what I see is a lot of forced liquidations and retail exiting their positions due to lack of capital ( most of them all leveraged). Take also into consideration the massive options expiration this week.
Therefore I expect a massive upward move in the upcoming 1-3weeks. It will be so fast that no retail trader will have the guts to follow again nor the capital since I expect real meme stocks and mostly AMC to crush!
Retail will enter wish again after $32
WISHWish (NASDAQ:WISH) is a stock that could head higher from Friday's close. This stock is in the process of bottoming and I expect a pop above $11.23 at some point in the coming days. Keep WISH on your radar, as we could be in for a real surprise if momentum picks up and the stock begins to breakout.
WISH Falling out of potential Head and ShouldersBroke uptrend line and starting to fall out of its potential head and shoulders pattern. It still could fill in and see a big bounce upwards
WISH ContextLogic Buy RumorsI know this rumor isn`t new, but makes us think a little bit about WISH`s valuation.
One person close to WISH`s Insiders said Amazon offered $10 billion all-cash to buy the company, and Wish's CEO didn`t agree.
Looking at today`s Market Cap of only 6.438Bil, i would say that from a valuation point of view you can buy it cheaper than Bezos now.
My short term Price target considering also the Avg. Volume of 59Mil per day is the 15usd resistance.
I look forward to read your opinions about it.
WISHWish (NASDAQ:WISH) seems to be forming an inverted head-and-shoulders pattern daily, whose neckline is placed around 15.4 and an upside breakout of this neckline will take the stock to 23 in the near future. I have been accumulating this stock over the past days, ignoring the noise and being focused on the fundamentals and potential of the company.
WISH - Obvious Short warningBlueWave gave red dot sell signal
Stochastic RSi was overbought
We touched a strong resistance Level
