tuna_pannini

Judgment day... Longs or Shorts?

Long
NASDAQ:ENVX   Enovix Corporation
Earnings today (26.07), so this is a risky trade.

Ennovix has a large short interest (~25%) and is very volatile (weekly volatility is 6%). Stock is

  • If this goes under $18.50 then get out.

  • There is a small gap at $20.40, so this can be the 1st PT for 1:1 RR.

  • A little longer PT is $26.


Divergence on:
SMI
Willimas %R

RSI flat

MACD not perfect.
Trade active:
Great ER... price action very strange.

It was possible to close trade at +20%.

Now back to Daily Base, so we will see. Trade still valid.
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