High volume indicating base has been build and its pulling back now. Im bullish on fundamentals and technicals till it breaks 50 day sma.
If institutions didnt buy it wouldnt have broken the pennant.
BRLT is a recent IPO with massive yoy growth and room to grow. Im fundamentally long here.
However the chart is even better. The accumulation in the support zone and 10 day moving average tells me something might happen today.
Stop loss on market close below 10 day MA and support zone makes this a great R/R ipo opportunity
Every bear is focusing on the day chart while the week chart shows a healthy pullback after being extended for months. A real correction in the near future is certainly possible but this bull market isnt finished before it breaks the weekly 21 ema.
Im adding stocks based on relative strength right now. If the indexes hit new lows next week I will sell.
TLDR: Its...
BARK is one of the few SPACs that actually delivered with earnings this quarter.
High volume shake out shows sellers are gone and might create FOMO. Especially since they started accelerating retail sales and food program. They also got more social media followers than Peleton. These fundamentals can easily translate in FOMO as sellers are gone.
There wasnt a lot of volume in the stocks I was watching. Institutions need volume in order to sell. Im going to place some hedges when we bounce of the 50 MA.
