Meme stocks are back at it. With GME and AMC running, BB could catch some bids too. If $9.6 breaks convincingly, the most recent price history between that level and $12.3 is straight up. Easy to target with 3:1 R/R but watch for 4h close above 9.6. Weekly hidden bullish divergence maturing. First higher low o 4h in a long time after very deep retrace (lost over 70$ os the value top to bottom). If you zoom out you can see that the stock is still down over 90% from historical ath.
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Sorry typos: *lost over 70% of its value from top to bottom
Trade active:
Broke above resistance and got 4h close there, even a backtest on smal timescales. Going long here with $12.4 target and very tight stop loss just below that newly established support level around 9.5.
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Looking good. Targets after $12.5 would be around $14 and $20.
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Looks like that 11.5 resistance (and 12 psychological) were real. Let's see if this has more energy left to continue higher.
Trade closed: target reached:
Keeping part of my position in for rest of the ride.
Comment:
Target 2 reached, see you at $20 I guess!
Trade closed manually:
$20 is where I'm getting out, good luck to anyone still in, this probably has some more room to run but risk/reward at current levels is not worth it imo.