SKILLZ (SKLZ): poised to retest resistance & break out soon(1) Fundamentals:
Skillz Inc opetrates operates a mobile platform that connects players worldwide. Its platform hosts casual esports tournaments
It's big moat is that it has no direct competitors, reason why it is able to generate such outstanding Gross Margins of over 94%.
And best of all is that these margins combined with a stellar Revenue Growth of 98% (TTM) without monetizing it's non-paying user (until now). That is going to change as it just acquired Aarki, which will enhance monetization of this big chunk of users, which make up 84% of its MAU and this will bring this enterprise to it's next level.
(2)Technicals:
The 1h Chart shows that SKLZ has been struggling and retracing a lot during the last days (after having taken a strong and resistance the 200 EMA in the 4h Chart) and now it finished to retest its previous lows around $18 and is starting to pull back upwards. Therefore it could be a bit early start positions, but on the other hand for those who look to a time horizon of 3 to 6 months this is probably the right moment to jump in as it also could become a Reddit favorite due to its attractive valuation combined with its elevated short interest of around 19%.
I am already in as I see a bright near future for this stock...and if you liked this analysis please do not forget to hit the like button and eventually leave a comment about your opinion.
SKLZ trade ideas
Trading pop stock popsSupply demand zone works amazingly with a 1 to 1 RR on stocks.
Also, the stock should be popular, many "common people" must have bought into this stock. This gives more probability to volatility and bounces.
I prefer this approach of waiting for price to come to me, over that of using buy/sell stops and trading/anticipating breakouts.
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Story:
I learned of this stock back in Feb when I first explored Reddit stocks, and I did an analysis of potential buy zones in advance.
Fast forward to today, one of the youtubers I follow mentioned this stock when I tuned into his stream, and I checked my charts, with zero memory of my drawings in Feb.
Saw the zones I drew, and they all worked out. And I didn't make a cent from it. xD
SKLZ - Will this Adam & Eve work out?Congrats if you had entered near it's Adam and Eve's bottom @ 12.50 (a 76% gain by now!). I am still bullish on it at the moment due to the mini bull flag that has formed in the past few days and finally a close above it's neckline @ 12.50 yesterday.
Let's see if the A&E target of $30 will materialise! Stop loss @ 18.90 for now.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
SKILZ BUY/LONG NOW READY! 13.00 to 35.15 or even 50 By End 2021!TICKER CODE: SKLZ
Company Name: Skillz Inc.
Communication Services
Industry: US Stocks Technology Services Data Processing Services
Position Proposed: BUY
Entry: NOW READY (13.02-13.97)
NEXT AVAILABLE ENTRY: (16.50-17.50)
1st Partial Take Profit: 34.00 (Oct-End 2021)
2nd Partial Take Profit: 46.00 (Early-Mid 2022)
Note that timeline buffered, I would expect Full Take Profit by Early 2022
Stop Loss: 10.05
Technical Analysis
1. Falling Wedge (Completed)
2. Double Top
3. Fibonacci Retracement at 0.786
4. Area of Confluence on the horizontal key level and trendline
5. Retracement Completed and Formed Double Bottom
6. 1st Take Profit will be at the next structure level
7. 2nd take profit at Fibonacci Expansion 1.00 Zone Take Profit and Doubletop Length
SKLZSkillz Inc (NYSE:SKLZ) price closed above the upper line of the descending channel pattern originated from the April 27 high, creating a significant amount of bullish potential. On the technical side, MACD and RSI all point to an upward trend. SKLZ has a lot of upside potential, so watch it closely next week. Next major resistance lies around the $18.21 level.
SKLZ - Technical Analysis- breakout from downward channel (looking overbought, if holds above breakout this will inch forward thru fib levels.
- good volume, indicators bullish
- wait for pull back, very strong push up the past couple days, will retest around 19ish 20 before next leg up to .786 fib level.
Unusual Options Volume SKLZ $20 APR 30 Call
SKLZ earnings date is May 04 2021
Earnings run up and break of down trend. Stock moved with increasing volume today. Possible break of trend into run up for the earnings with good possible upside if it holds at current levels.
April $20 Calls Lots of volume today 9,000+ contracts traded. Heavy open interest on May 21 $20 thru $35 strike calls indicating more up side.
Consider 21 May options calls above 21.50.
Down trend channel break $18.11
Trigger $21.50
Target 23.50, 24.57 resistance, stretch target 27.50
Wide SL close below $17.00
Close contract before ER to be on the safe side.
$SKLZ Skillz Inc Gets Multiple Pumps.
Quiet a day for SKLZ as the stock got a extra Vote of confidence from Cathy Wood
while also getting the opportunity to appear on CNBC to counteract some of the negative comments coming form the recent short report.
Technically the stock has broken the downtrend and reclaimed the EMA;s as support in recent days.
Potential trade setup on a break above the Pivot point @ $21.28
Potential target to the 50&100MA's @ $24.55