It looks bullish to me, and it seems 5$ was the max pain and 5.30$ is the floor, I expect reversal from here, as you see falling wedge formed and we should see a break-out soon, TP1: 6.18 other TPs are on the chart.
It seems that there is a very strong support at 5$. It is riding the top of the falling wedge that you've laid out. Nicely done ~
shkspr
⋅
@wtxchase, thanks :), my bullish idea is exactly based on falling wedge as you mentioned, it seems 5$ is floor and it will bounce up from here.
miguelsique
⋅
@shkspr still not convinced. Tomorrow may determine if 5 is a strong support or not. I want to see a clear rejection today I just didn’t see it.
SiFiPiDi
⋅
@miguelsique, There was a block buy of 482,993 shares @ $5.01 worth $2,419,794. If that isn't a clear rejection, I don't know what is.
miguelsique
⋅
@wtxchase sounds good. But to me a clear rejection isn’t confirmed until the following day based on the time frame you are looking at. I always seek confirmation. When people do not seek confirmation that’s when they get wrecked in this market.
SiFiPiDi
⋅
@miguelsique, Good point! Thank you for the feedback ~ ! :)
TORNADOF5
⋅
@wtxchase, well no more strong support =/
SiFiPiDi
⋅
@TORNADOF5, I believe the previous three days were a bear trap laid down by Hudson Bay themselves. They are making their money on the OTM puts and calls they are selling to retail as the price is volatile. Hudson let the price drop under support today and drew in almost 1 million retail shorts. Fintel is now reporting 150k remain, when 1 mil were available last night.
Be cautious, though, they can trap bulls just as easy as they trap bears.
TORNADOF5
⋅
@wtxchase, i think need to do as i saw some traders are doing they add 10 cent stop lose under the buy zone , good idea what do you think ?? or it can gap down as well D: