ogdabber

FIVN: Either to break to new ATH, or get pulled back to 200 ma

Short
ogdabber Updated   
NASDAQ:FIVN   Five9, Inc.
The weekly looks bearish unless it can breakout... the daily confirms H&S, plus has already touched down on 50ma -- that 90ma is weakkk support, so if it falls (through cloud), then it will drop sharply back to 200ma, and then likely build up tons of support here and continue back up. I say this because this market is clearly irrationally bullish, and this company is apparently a leader in its industry. Personally, I feel the entire market should still be down since initial pandemic drop. That pullback was NOT just b/c of COVID-19 -- market was due for MAJOR correction for months leading up to that... honestly, maybe the good part of last year, but MM's and irrational bulls pumped AAPL and TSLA to the moon before dumping. Once market initially crashed, to squeeze options contracts and hedge losses, it was artificially propped and then pumped back up to "breaking point" of bullish territory, and now likely dragging out next inevitable drop for same reasons. Be careful with long positions -- either blow off top rally to come to squeeze out shorts, or just falling right away... get your popcorn and puts ready, and add in increments for optimal gains. *NOT ACTUAL TRADING ADVICE*
Comment:
Honestly, one of the best looking short opps I've seen in past couple weeks. Will be interesting to see how this plays out.
Comment:
Still following the same trend line... could/should have anticipated this as it is going into ER... could go either way post-ER, not sure if there is another ticker to follow to help predict price action, but I'm guessing folks will want to have a positive reaction here... I'm guessing this goes parabolic, but only time will tell.
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