DWAC has sold off pretty decently on friday session and was able to fill the gap.
There are following structure and technical developments that I'm taking into consideration:
- very decent support at lower value area which around 40-45
- 1D stoch positive divergence may trigger in upcoming sessions
- single prints at highs that may be filled
Fundamental developments:
- stock is very well known and had its initial hype which needed to be brought to the ground. Like AMC or GME this kind of action is often followed by secondary wave
- DWAC is not even 2bn company right know and taking into consideration that almost half of Americans support Donald, it brings great value to company
- it has become very quiet about DWAC recently and each news about website development may trigger another euphoric behaviour
From r:r perspective this is a good long idea, as floor may be very near, and we can definitely see new highs on this stock as long as plans for new social media platform are not abandoned.
Disclaimer: I'm not certified financial advisor and this is definitely not financial advice. I'm only sharing my recent opinion about the stock.
There are following structure and technical developments that I'm taking into consideration:
- very decent support at lower value area which around 40-45
- 1D stoch positive divergence may trigger in upcoming sessions
- single prints at highs that may be filled
Fundamental developments:
- stock is very well known and had its initial hype which needed to be brought to the ground. Like AMC or GME this kind of action is often followed by secondary wave
- DWAC is not even 2bn company right know and taking into consideration that almost half of Americans support Donald, it brings great value to company
- it has become very quiet about DWAC recently and each news about website development may trigger another euphoric behaviour
From r:r perspective this is a good long idea, as floor may be very near, and we can definitely see new highs on this stock as long as plans for new social media platform are not abandoned.
Disclaimer: I'm not certified financial advisor and this is definitely not financial advice. I'm only sharing my recent opinion about the stock.
Comment:
40-45 area held so far. As long as we are above, panic selling can turn into panic buying.
Trade closed: target reached:
Looks like 40-45 support area put a major bottom in stock price.