Looking at the chart for the past two days several ideas came up to me: With the support level being retested at 47 instead of 45 it has bullish sentiment and after the most recent analyst calls they have absolutely affected price as can be seen 9/24, 11/20 & 12/7. 12/8 we see a Doji.....What if you had an idea to buy a stock but didn't like the current price so set a buy order at the lower support? After Friday's open & close we first saw a breakout then closed aftermarket higher.
Theory: Sports-betting will continue to be legalized, which is part of this hype. No analyst is going to change what the market has to say about the fact people are bullish in the stupidest bull trend we've seen. Because so many people are already bullish and only 3 of maybe 20 analysts are bearish people will pump this to the sky again. Maybe not to 60 but this support had some time to fall to 40 and the price action has shot up several days in a row after opening in the red.
I have calls set for 1/8 at 52$ looking to begin to cut the positions at 48.50
Theory: Sports-betting will continue to be legalized, which is part of this hype. No analyst is going to change what the market has to say about the fact people are bullish in the stupidest bull trend we've seen. Because so many people are already bullish and only 3 of maybe 20 analysts are bearish people will pump this to the sky again. Maybe not to 60 but this support had some time to fall to 40 and the price action has shot up several days in a row after opening in the red.
I have calls set for 1/8 at 52$ looking to begin to cut the positions at 48.50
Comment:
46.50*
Trade closed: target reached:
Target reached: Profits taken roughly 430$ (4 of the 10 are closed, not including the cash I used to buy). I am still very bullish after today's drop as it holds above 50sma on the monthly and 200sma on the weekly.(The dojis bouncing off the 200sma shows strength) Its said theres a 70% chance for the state of New York to legalize mobile sports-betting by 12/31/20. They recently signed a deal to produce gift cards in stores now. The reason it dropped was because Iowa refused to legalize.
KEEP AN EYE OUT FOR MONDAY'S POSSIBLE GOVERNMENT SHUTDOWN!!!
KEEP AN EYE OUT FOR MONDAY'S POSSIBLE GOVERNMENT SHUTDOWN!!!