IQ trade ideas
IQ - Promising but needs more clarificationLet me say first that I am positive for this company.
I also wish to add that I own stocks and I am waiting for more clarification to increase the position.
My target price is $50+
As to the technical analysis:
The first approach is the one of 5 Waves up.
We had 1,2 and 3, we may have seen 4 or we are close to the end of it, and waiting for Wave 5 up.
Above the red line, Wave 5 will be confirmed while below the blue line we could have another approach.
So, the second approach is to have 3 phases A,B and C.
In such a case B can end (not obliged to) at the green rectangle.
What I want to stress is that both calculations (5 waves or A-B-C) will give a much higher target price.
So, all we have to do is wait for more clarification.
There is no need to rush, once it starts going up the profits will be superb.
Can IQ move up from here?It has tested the green support line three times since it went IPO. Last 7 trading sessions were all red with below-average volume. If the stock decides to move up from this level, it will need to break the $32 zone as a lot of buy/sell activity took place there. Today, the company raises more funds for its Sports venture, which is a good sign as investors believe in its future prospects. Recently, a multi-year deal with Nickelodeon was signed as well.
Q2 results:
$932.5M revs, 51% increase compared to last year
$200.7M operating loss with 22% loss margin compared to 24% of last year
$316.9M net loss
67.1M subscribers, 75% increase compared to last year (66.2M are paying members)
Company has $2bn cash
Company is increasingly investing in channel marketing, content promotion, branding as well as R&D
CEO from the conference call:
"We believe we are well on track to execute on our corporate strategy and generate long-term sustainable value to our shareholders."
Q3 guidance:
$985.3M - 1.03bn revs
Trend change is nearThe orange lines show a descending wedge which was broken to the upside. The green lines form a possible channel into the future. The black line is variable moving average with support right at the bottom of the last candlestick. The blue line is another possible support zone if next week brings forth more selling pressure. If the green channel holds, we might see a move up to the $37.50 area to test resistance from earlier trading sessions. Also, since IQ has tested all-time .618 retracement level, I don't think .786 is achievable for shorts now, especially after the spike to mid $32. Good luck.
50 MA crosses 150 MA on 1 H chart.I feel this might be a good juncture for IQ to pivot into a upward trend after 3 consecutive trading days forming doji patterns and then staying above key support levels.
Any comments?
Breaking out, my friends :)Not much to say. The chart is looking prime for major upside. Get in now. :)
IQ soon to be bullish?We are forming a falling wedge, and at the bottom of that we have a major support. Just started all of this stuff so please help if you have a different opinion. Thanks
$IQ - Watching for long/short entryIQ has almost broken down trend resistance. It appeared to have broken after most recent run up, but has hit 30.00 resistance. If 30.00 resistance doesn't break soon, this will continue on the down trend back to 25.00. I will look for the short entry at the crack of 28.00. This will also confirm a failed bullish crossover on the MACD. If the 30 resistance breaks, this will confirm the down trend break, the MACD bullish crossover and the horizontal resistance break. This will likely see a large bull volume increase for a big run. This is where I will look for entry on a long position.
On the bearish move, I will get lower risk puts to trade, looking for small slower profit (2-3 weeks out)
On the bullish move, I will get higher risk calls to trade, looking for quicker, but larger profit due to expected large run (1-2 weeks out)
IQ Idea ( elliot wave + RSI oversold) IQ has to make a decision right now, whether to go up or go down.
I Think it is going down to complete the Elliot wave and hit the .23 Fibonacci
RSI is EXTREMELY high relative to its past, This code be a bull trap so they can dump the stock on you.
Time to go longDowntrend is about gone. IQ was sold off heavily upon trade war tensions as well as short side attack yet fundamentals always win in the end. This is a growth stock you want to keep.
IQ - Quick ShortI entered a short position at 28.75 where it is having a double top. There is a large bubble formed due to the steep up trend developed today. I think the down trend resistance here at 28.75-29.00 alongside 30 resistance should bring in some profit takers giving a little AM dip tomorrow. This is also confirmed by bearish divergence formed on the MACD histogram and the higher highs formed on the candles. Also, the bubble should pop to at least 27.50. This will be a pivot point showing if bulls will keep momentum or if this will lose all the gains and fall back to 25.00. I am looking for a quick exit anywhere between 27-28.
$IQ Watching for Short Entry$IQ has been on quite the downfall. I think there is a little more to come. If $25 cracks this will likely fall back to $22.50 before consolidating there. I'm looking for a short entry around $27.00-$28.00 then a run back to $25. If $25 cracks I will look for this to keep falling until $23. If strong volume and bullish indicators develop when around $28.00 then I will watch for bullish reversal. Scalps could be made from $28 break to $30, but wouldn't play the real reversal until $30 break out.
Open minded near term, no predictionsnews support picking up, nice progress for bulls----but one step at a time, needs to test trend line, break above, form a higher low that closes and holds
IQ short term downI think IQ will continue to head lower short term to complete the point C of the corrective way
