WORX - Position taken/ Watching for a short squeeze LONGWORX is shown here on a weekly chart. Basically it has been falling since COVID. Apparently,
a Chinese company manufacturing electric landscaping and yard maintenance tools. In the past
four days a big move up from 1.40ish to over 3. Looking to the left, it traded at 125 around the
time of COVID. The FINRA short indicator had a burst of activity and the relative volume is
20-40X. In the context of things, shorts could have been taking positions dating back as far as
four years and may now be buying to liquidate their positions and realize profits. Any rising
price action will stimulate more of the same synergized with new buyers stepping in to get
a piece of the action. I am now one of them. My targets of 6.8, 8.7 and 11.8 are drawn on
the chart from pivots in the past year. The 4H RSI on the dual time frame indicator shows
a rise over 50 while the weekly RSI line is chronically low and not yet changing. If the short
squeeze takes off, the targets will be met quickly. Hype in trading rooms and social media like
Reddit will add fuel to the price action in rising volume. Volumes over 100 million typically
cause more interest which helps sustain the volumes. Shorts buying to cover adds more to even
more volume.
WORX trade ideas
$WORX PLAN FOR MONDAY BIG POTENTIAL!!-Similar set up as BTX
-First big run was nice but we kept on going
-with volume and price action we should see this start to approach new highs soon
-Worth watch On Monday
-Once we break fridays highs we should be looking for a zombie move towards ATH
-watch for fakeouts and rejections
Whatever WORX Right?WORX stock tested a key FIb level on Wednesday being the 50 fib line after plotting the top anchor at the recent high the first time WORX busted above the 50 fib. Before this latest round of testing, the last time WORX reached this key level it was rejected heavily.
A few weeks ago, the company announced that it had regained compliance with the NASDAQ listing requirements. At the same time, it announced that Tim Hannibal, current COO, would become the new CEO. He stated that “over the last 10-15 years, technology within the healthcare industry has evolved both in cost and complexity. Unfortunately, the technology which was implemented within different hospital departments and with disparate objectives has failed to provide the promised advancements.” As a leader in providing software to healthcare institutions, there is a clear benefit that Scworx could gain from the pandemic’s current state and the ending of Covid-19. With all of this in mind, is WORX stock worth keeping an eye on?
Quote source and read more: 4 Epicenter Penny Stocks You Need to Know About in 2021
$WORX is gonna fall todayPupm&Dump trading strategy idea.
$WORX is rising too much today.
The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price today.
So I opened a short position from $3,87;
stop-loss — $4,20;
take-profit — $3,22.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
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$WORX BULLISH CYPHER PATTERN$WORX BULLISH CYPHER PATTERN
SUPPORT AND RESISTANCE
MA50 crossing up MA200
Spike in Volume
SCWorx Corp. provides software solutions for the management of health care providers' foundational business applications in the United States. The company provides services related to repair, normalization, and interoperability of information, as well as big data analytics model that provides web portal for display, and reporting and analysis of the information contained within the data warehouse. It also offers various software solutions and services, such as virtualized item master file repair, expansion, and automation; electronic medical record management, a module that integrates the advanced data attributes created in the item master to the electronic medical records; charge description master management(CDM), a module, which assists healthcare providers by integrating the CDM data into the workflow of the hospitals purchasing systems; contract management, a module that assists healthcare providers to establish a contract management system and to provide care to patients; request for proposal automation solution; rebate management; ScanWorx, a mobile perioperative closed loop scanning solution; and data integration and warehousing, as well as solutions for integration of acquired businesses, which enable deployment of a virtual item master files. The company sells its solutions and services to hospitals and health systems through its distribution and reseller partnerships. In addition, it offers CageTix, a ticketing platform for mixed martial arts industry. Further, the company focuses on selling rapid test kits for COVID-19; and personal protective equipment. SCWorx Corp. is based in New York, New York.
WORX ticker is getting ready to workBought in at $1.80 slightly earlier then I wanted to. Better entry was in the .70s. Anyhow it is ready for higher numbers. Just need to break the 200 day MA and close above that and we should be good to $5 plus. Short term. Good luck!! Follow for more great ideas every week.
+200% opportunity in less than 100 days..,Potential gain:+200%
Reward/Risk:+10
Timeframe: <100 days
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