Between now and 16th August I believe NYSE:GME will move into the launchpad area before making new highs. I would expect this move to be completed before Friday 16th August. My LIS is $17.50 but I feel we may only get as low as $19 before a move back up. Then it should be fireworks and rockets. God speed space cadets. NYSE:GME
If we bounce from $20.20 (gap needs to be cleared) I would expect a move back to current highs - $64.83. Once the current high is taken out at $64.83, I would expect a move to my wave 3 target. It's all doable but will take patience and large amount of buying from retail investors from ITM calls options to send this rocket! Hindsight is a wonderful thing, so...
AMC looks like it will go onto a gap-filling rampage over the coming weeks and months. I have highlighted all gaps (red lines) that need to be filled from $3.00 to $37.00. I would expect AMC to get to hit anywhere between $6-9.36 before a reversal back to $3.00 then a new bull run. Long term Trendline : it appears both NYSE:GME and NYSE:AMC have broken...
NASDAQ:MARA I like the stock and currently hold. I personally feel one more high to $28-$33 (Could extend past this). Then potentially fall to sub $3. The new lows present an opportunity for big money to buy miners whilst exceptionally low in value. The current fair value price for NASDAQ:MARA is $9.59. Anything below this is deep value in my opinion....
Disclaimer: I have long followed NYSE:AMC and I personally hold a small position. It recently found an area of support which will be extremely tough to break, and based on today's bounce, it confirms that. Bull Analysis: Recent earnings = long awaited positive statement with positive future earnings outlook Falling Wedge with RSI divergence: Falling...
NYSE:AI - One I have been watching for a while. Purchased this stock at $15.59 and still holding. I am going to re-enter some options as I am expecting a bullish continuation to at least $65 before a significant retracement. Wave 3 Target: $56 Wave 5 (Final) Target: $65 Options idea: $50 strike with 1st September 2023 expiry with 10% SL. Currently...
NASDAQ:COIN / Coinbase Wave 1 - 1st Target = $87 (Confirmation) (entry is between $87 and $95) Wave 3 - 2nd Target = $135 (I will close 25% of my trade) Wave 5 - 3rd Target = $158 (I will close the remaining 75% of my trade) I am expecting NASDAQ:COIN to at least hit $135 which will be a great move from the current position of $96. Options Idea: $120...
NASDAQ:ZM Zoom has retraced 100% from its all time highs. It is currently consolidating, forming a double bottom and moving in a very similar pattern to $ROKU. The questions is will it make a new low or start a new bull run. I am expecting the latter - A new bull run. Options ideas: $100 strike, expiry 15th September 2023 with 10% SL, currently priced at...
Paypal has retraced 75% from its all time highs. Appears to have recently reversed and awaiting confirmation. If so, I am expecting PYPL to reach $95 initially but keeping a watchful eye on the $124-125 area for a large gap up for a move to $140+. Options Idea: $100 strike expiry 15th September 2023 currently $40 per contract. 10% SL.
If you like value stocks this is one for your portfolio. Fundamentally strong. Technically Strong. I like this stock. Short term PT of $24 Long term PT of $50+
Potiential for one more move down then it could start climbing to $36+ Wave 1 = 61% fib = $15.62 Wave 2 completed = $9.04 Wave 3 = 161.8 fib = $36 Wave 4 target = 100% fib = $21 Wave 5 = 200% fib = $51 - this is where I will take my profits Remember, if price actions breaks $9.04 it will invalidate the theory.
Dow Jones wave 5 cycle from 1896 to 2022. DJI perfectly tags Waves 1-2 and 4, with 3 and 5 being overextended. Wave 3 went to the 200% and Wave 5 went to the 223%. For those who do not understand Elliott Wave Theory I would recommend reading EWT Principle by Robert R. Prechter Jr. A controversial issue is whether the severe economic recession accompanying the...