THE UBER OF REAL ESTATE SALESrecent IPO so HIGH RISK but the business idea is one familiar to all investors as being sorely needed in the marketplace. amazing revenue growth and giant TAM potential BUT VERY SMALL MARGIN business. amazing disruptor with strong management. i bought as it was ready to move above 20dma after a quick test and rejection of the 50dma.
OPEN1 trade ideas
OPEN 04-01-2021 LongAsset and Time frame -OPEN,4H
Entry Price -23.79
Exit(Stop Loss) -21.30
Exit(Take Profit) -32.38
Technical Analysis - Daily chart reached a significant support line and the 50MA,making a hammer like pattern on the daily(depends on the close), on the 4H chart the RSI couldn't get to oversold(and a hammer + confirmation pattern again), price will get back to the daily channel and return to the uptrend.
I would like to hear your opinions and what can I do to improve, many thanks
$OPEN OpenDoor Tech Makes Very impressive Reversal
A huge selloff finally found support yesterday on Fibs' and
the gap fill level, resulting in a 13% intraday reversal.
First major target to cross today is $27.00 (previous pivot)
$29.46 is a previous resistance levels which should act as
a good target in any reversal.
$OPEN, Zillow, and Redfin correlation and long term bullishOpendoor broke trends today during a period of limited/no support (See related ideas section).
I look to RDFN and Z for wider market trends. These 3 companies are in a similar tech real estate market. There is limited trading history for OPEN and IPOB, TradingView doesn't even allow charting properly. There is a correlation with patterns for RDFN and Z, but there has been higher volume with OPEN. Using 1H ichimoku, both Redfin and Zillow are bullish and have no trends broken. Z is actually slightly positive since the OPEN ticker change. I expect OPEN to get back on a bullish 1H trend once the early stakeholders complete their selling.
This is an accumulation level and it could gain momentum fast as people accumulate. I would like to see a bullish 1H trend since the new ticker launch, which could at the earliest be established during the first week of January, before I recommend going long.