SKLZ trade ideas
SKLZ 1D March 8 - Wolfpack Research released a short report. The stock price fell about -11% on the day.
March 18 - Public offering of 32,000,000 shares. The stock price fell about -9%.
SKLZ has been heavily beaten down, currently sitting at roughly 60% down from all time highs.
Cathie Wood/ Ark Invest added 745,700 shares to their position on Thursday, March 25, totaling just over 6 million shares.
I will look to long this stock for a few reasons.
3From a technical perspective, SKLZ is sitting on the 200EMA on the daily chart . This is a significant support level . In addition, it is also sitting on the 0.786 fib level, which is another important level of support. We seem to be in wave 2 of a 5 count elliot wave which should be about 60% retracement from the first big move.
leads me to believe that the ~$18 level could very well be the bottom.
SKLZSKLZ had explosive growth after it IPO'd and Cathie bought it. When Cathy buys - momo follows but it was a victim of a tech sell off. As long as price doesnt dump below 200 MA, I see no problem holding this long term. SKLZ seems like one of those that will get bought out by a whale eventually.. Long term hold for me especially if we punch through levels above. As always, DYODD before you spend your hard earned money.
SKLZ - An Excellent Dip BuyMarch 8 - Wolfpack Research released a short report. The stock price fell about -11% on the day.
March 18 - Public offering of 32,000,000 shares. The stock price fell about -9%.
SKLZ has been heavily beaten down, currently sitting at roughly 60% down from all time highs.
Cathie Wood/ Ark Invest added 745,700 shares to their position on Thursday, March 25, totaling just over 6 million shares.
I am long on this stock for a few reasons.
1) Cathie Wood has picked BANGER stocks, over and over again. I followed her into BNGO, and NNDM early. She hasn't let me down so far.
2) Every action in the stock market is an overreaction. The short report, stacked with the offering, has brought this stock to the ground. I'll ride it right back up.
3) From a technical perspective, SKLZ is sitting on the 200EMA on the daily chart. This is a significant support level. In addition, it is also sitting on the 0.786 fib level, which is another important level of support. This leads me to believe that the ~$18 level could very well be the bottom.
I'm buying shares Monday morning, 3/29.
I will also be looking to get into a long call calendar spread.
BTO $25 8/20 c @ 3.15
STO $25 4/16 c @ 0.65
Total cost - 2.50 or $250.
$SKLZ - head and shouldersWhere is the bottom?
This is such a new stock and had a mega run; earnings were not that bad and I like the company.
I will be watching for reversal to ride it back up.
Patience pays.
SKLZ Descending wedgeThis descending wedge could be bullish in midterm play. But for short term next Monday, I would wait for 19.25 confirmation and bet on long. If it drops to 17.5 I would go short.
SKLZ - BTD Time (Great risk/reward)SKLZ looks like a great setup currently with a deep Wave II 78.6 retracement. The tech correction coupled with the offering they did brought the price down very low for us bulls to swoop upon. The invalidation level for this play is not far below, so if you are taking contracts that are a month or further out, you can cut this position as a paper cut loss. This play can take time to pan out, but I am bullish on SPY and QQQ going into April, so I am expecting SKLZ to also follow along with a decent pump. The key is to get in while IV is still low. Enjoy!
$SKLZ Possible Morningstar pattern (bullish reversal)Possible Morningstar pattern, on watch. Look for gap up tomorrow, followed by a large green candle. Big volume will also be key and we should hope for more volume than today. As with all patterns, this is not a guarantee and needs confirmation. Also observed: Oversold on Stochastic and nearly oversold on RSI. Plus, I believe this is the end of wave 5.
Also of note: Cathie Wood bought the dip today to the tune of 745K shares. Giddyup.
www.investopedia.com
SKLZ 65% UpsideWe may see a SPRING here, I'll be looking for entry if we break resistance and re-test. Then to the MOON.
$SKLZ ABCD Price Reversal Zone See .786%, ABCD level for price action to go long, ie-pin bar, engulfing candle, inside bar, harmonic pattern in small time frame
SKLZ to retest 29 on ThursdayI'm going to try to guess here. SKLZ will retest 29-ish this week and break-out, or next week retest again further down the rising pennant.
Swing Tarde-Company offered secondary offering of 32 million shares @ $24/share
-The offering is expected to close on or about March 23, 2021.
-Skillz may use the proceeds for working capital and general corporate purposes, according to the statement.
Catalyst im looking for:
-The Company is initiating 2021 revenue guidance of $366 million, which equates to 59% year-over-year growth.
- How will they use working capital gained from offering
-The developer challenge for NFL themed mobile game will launch in the second quarter of 2021
- possible long play as i see them expanding their n2 numbers with new games added to their platform
any feedback is much appreciated
mahalo
SKLZ - Head & Shoulders with Gaps to Fill?NYSE:SKLZ The chart shows many subtle hints of mini shoulders and broader shoulders on a bearish head and shoulder formation on the chart as indicated above.
There is a nice demand level just above $21.60 if they wanted to trap short sellers by enticing them to bet on the filling of the gap further below at $18.26 which would be a beautiful buying zone.
Keep it on your watchlist Wait for breaking out of the channel and daily candle close out of the channel for safer entry.
It seems ark invest was busy past week to rescue its new plays and keep them above 50 EMA!
$SKLZ - Bull Flag breakout: Potential Target $34.25Nice Accumulation volume and this name has nicely broken out of a bull flag with good volume.
Potential Target1: $34.24
Potential Target2: $40
Potential Target3: $44
Stop-loss: LOD(3/15)
$SKLZ Ready To Breakout? IPO Watch List.$SKLZ went public in September 2020 and has performed well until just before the recent market sell off. I've marked areas of the chart where you can see large volumes of accumulations. These are typically institutional investors buying for the long term. SKLZ just reported earnings and has had a positive response even though they missed on earnings. I have set an alert just above the last trading days high where I believe will confirm it's continued move up. Ideas, not investing / trading advice.
latest earnings according to Earningswhisper.com:
Skillz (SKLZ) reported a Quarter December 2020 loss of $0.13 per share on revenue of $67.7 million. The consensus estimate was a loss of $0.10 per share on revenue of $62.5 million. The Earnings Whisper number was for a loss of $0.12 per share.
The company said it expects 2021 revenue of approximately $366.0 million. The current consensus revenue estimate is $366.09 million for the year ending December 31, 2021.
Skillz is the leading mobile games platform that connects players in fair, fun, and meaningful competition. The Skillz platform helps developers build multi-million dollar franchises by enabling social competition in their games. Leveraging its patented technology, Skillz hosts billions of casual esports tournaments for millions of mobile players worldwide, and distributes millions in prizes each month.
$SKLZ Swing Idea- Target $35SKLZ bounced out of an important support zone recently, meaning they could see a strong uptrend this week. This could also be a potential breakout play, as they completed the descending wedge formation. Stop loss at $26. Leave a like and comment your thoughts :) Good Luck!
