Not gonna lie, Clov is one of the ugliest charts I've seen. That being said there could be a good opportunity for a short term swing into earnings on Feb 23rd. Here's why:
1. Last Q earnings beat street expectations and revenue is expected to rise thought the cost of customer acquisition is still very high
2.Today price closed above the 20ma for the first time since Nov 8
3.Jan 31 price bounced off long term trendline support and held despite a significant correction in the overall market
4.RSI showing significant divergence not seen since Feb/Mar 2021
My plan tomorrow is to find an entry near the 20ma with a .25 stop. Looking for .75 profit.
1. Last Q earnings beat street expectations and revenue is expected to rise thought the cost of customer acquisition is still very high
2.Today price closed above the 20ma for the first time since Nov 8
3.Jan 31 price bounced off long term trendline support and held despite a significant correction in the overall market
4.RSI showing significant divergence not seen since Feb/Mar 2021
My plan tomorrow is to find an entry near the 20ma with a .25 stop. Looking for .75 profit.