Probably not, but my guess is just as good as yours. The previous peaks become the new bottoms. Resistance becomes supports.
CCIV has a bottom of $27, but I was busy sleeping in. I sold my 22.5/25c 2/19 spread for 300% profit so I ain't tripping. BUT me thinks the dip isn't done dipping. On the higher time frames, the MACD crossover just started. Same with TTM Squeeze. The bottom today did touch the 21 day SMA on the 2hr tho. It hasn't touched or dropped below the lower Bollinger Band yet.
My red lines are what I think are the absolute extremes of the channel. The green channel lines indicate an acceptable entry/exit. The yellow support lines are levels of decent entry. When the yellow lines, red lines, and green lines are relatively all the in same area, that's a go for me.
My PT for the low is $25. After that, to at least $40. Will be using 10% of my portfolio on this play instead of the usual 5% because of my current success rate.
CCIV has a bottom of $27, but I was busy sleeping in. I sold my 22.5/25c 2/19 spread for 300% profit so I ain't tripping. BUT me thinks the dip isn't done dipping. On the higher time frames, the MACD crossover just started. Same with TTM Squeeze. The bottom today did touch the 21 day SMA on the 2hr tho. It hasn't touched or dropped below the lower Bollinger Band yet.
My red lines are what I think are the absolute extremes of the channel. The green channel lines indicate an acceptable entry/exit. The yellow support lines are levels of decent entry. When the yellow lines, red lines, and green lines are relatively all the in same area, that's a go for me.
My PT for the low is $25. After that, to at least $40. Will be using 10% of my portfolio on this play instead of the usual 5% because of my current success rate.
Comment:
CEO of Lucid had a great interview on CNBC. Quite the nice pump. Will be a little bummed if I miss this one, but I'm patient. It's possible that the LOI will lead to a massive rocket, and there can be tons of profit taking after the merger. Usually how most spacs go, but I definitely will be buying the company eventually for a long term hold.
