CLOV34 trade ideas
CLOV - The party is overInvestors jumped the gun based on faulty short interest numbers from S3, anticipating a short squeeze. The recent rises in price were not due to a squeeze, simply impulsive investors still chasing the dragon after GamesStop. Trading volume has completely slashed following S3 admitting their mistake and publishing corrected numbers. With the thesis for the CLOV squeeze broken, look for this stock to complete H&S as investors inevitably dump the share price once boredom and fear of loss sets in back to the 7.75 range.
CLOV and the Fork IIAlgo chart from previous analysis.
I am using a Median Line pattern and the Center Line is the "ideal first" target zone.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
$CLOV can rise in the next daysContextual immersion trading strategy idea.
Clover Health Investments, Corp. operates as a Medicare Advantage insurer in the United States.
The demand for shares of the company looks higher than the supply.
This and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $9.67;
stop-loss — $8.48.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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Clov is a crab!crab harmonic pattern:
AB=0.38 XA
BC=0.88 AB
CD=2.6 BC=$14
or
CD=3.6 BC=$18.5
or
CD=1.6 XA=$29
CLOVER HEALTH breakout tradeClover health strong volume good momentum breakout trade
EP: 9.27
SL: 6.80
TP: 13.16
CLOV ready to bounce backThoroughly beat up by short sellers and hit pieces by detractors, this bargain bin darling is ready to rocket.
Picking up shares anywhere south of $10
ClovTesting resiatance at 10.60. If it can flag out and get some support above here it would be very bullish. A drop should find support at 9$ If it wants to maintinf the bullish run
$CLOV$CLOV - Huge volume and interest from the last trading day. The green engulfing candle is a vital reversal sign. There's resistance at $10.56, and the breakout point is $11 - GOLDEN CROSS.
Something Might Be Brewing In CLOVIncrease in volume at a lower level indicating smart monies have started accumulating CLOV stock. A pullback to support level may be needed for retailer investors participations.
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
CLOV Short Term BearishCLOV short term classic bearish divergence on the 4H.... market is shit for small caps and spac's rn... where will this lead us past support?
CLOVSHORT-TERM: Support/resistance flip with hidden bullish divergence, break above VWAP. (not financial advice)
CLOV Game PlanCLOV has been beaten up past a lot of strong resistances but i see a nice swing opportunity here for both short and long term.
This is currently still bearing but I see a uptrend in the near future.
Please note these are just my ideas and game plans. I am not a financial advisor
$CLOV overhead resistance levelsCLOV news and high short float has people calling for a reclaim of highs. But these key levels need to give way first. Many bag holders overhead so I expect it won’t be easy. However the volume POC was traded thru today showing that buyers are serious.
CLOV might reverse from here We could see $10-$11 zone in a couple of days. might reverse from this point. triangle broke out today
Time for a reversal after weeks of bearsThe pace is slow into a bearish trend for weeks but price action does show some support above the weekly support. Watching if it can hold the 4H support for confirmed double bottom and break above the key s/r.
CLOV trading sideways. CLOV has been hit hard with the false short seller report, and couple that with the market conditions recently this stock is way undervalued. We bounced off support and it seems now that we are trading sideways after a small move up. RSI looks steady wanting to head high towards the overbought territory. MACD is in the green and it looks like it wants to widen greener. This is long hold for me and have no problem scooping up more shares at these prices. In Chammath we trust.
CLOV Post Earnings Bounce PlayThere are many reasons to favor a CLOV long position here with earnings on March 1, 2021.
1. We have wicked off the same bottoming zone explored last November. This has many characteristics of a capitulation wick after the rapid descent following news of the DOJ investigation.
2. Short interest on this stock is quite high, although reliable up-to-date information is hard to find but nonetheless appears to be fairly high (30%), and RSI appears oversold.
3. The options market is skewed towards puts - putting the max pain point between 12.50 and 15 - more than 25% above current levels. swaggystocks.com
4. CLOV's 50% decline into earnings fits the Goldman empirical earnings system quite well which shows that stocks declining into earnings tend to pop after earnings - generating an average of 18% call option returns vs 4% for all other stocks post earnings.
5. It appears that the decline in stock price is solely due to news surrounding a DOJ investigation rather than trend changes in the business or market. The history of TSLA and FB stock suggests that legal-related FUD is often transitory, as opposed to market/moat-related FUD.
6. Finally, technical factors favor a bounce in the overall market in the coming days, and today's 8% drop in CLOV accompanied a dramatic but failed selloff in the S&P 500 (see VVIX divergence mentioned in analysis below)
Lastly, for those more concerned about the DOJ investigation than the charts or technicals, consider that the investigation began before the recent transition in the Executive Branch, and Chelsea Clinton - Vice Chair of the Clinton Foundation - serves on Clover's Board of Directors. For reasons completely outside technical analysis, it would appear that serious indictments by the DOJ are highly unlikely due to political reasons. investors.cloverhealth.com
Just consider this like any other transitory FUD and take advantage of buying opportunities found in the charts - as you would with Bitcoin, Tesla, or similar assets. In addition to the shares I purchased yesterday, I purchased $10 call options March 19 ($1.05) and a 12.50 LEAP (June dated).
