NOTES HTZ has recently secured 1.65 Billion in funding, this has provided a potential solution to their current bankruptcy situation which has caused the stock to tank so low. This has sparked a whole new set of impulse waves (likely a first wave extension). Generally speaking a first wave extension means that the 5th impulse wave will stop around the 1.618 fib extension of the first wave - in this case likely the $4.00 range.
Likely Scenario: Timeline 1-2 Days 1 - HTZ breaks through in premarket-early morning on Monday breaking through 2.87 - proceeding to the $3.40 price range followed by a slight pullback in the cards to the 2.90 range. 2- HTZ continues from the 2.90 range all the way up to the 1.618 fib extension of $4.00 per share Alternate Scenario: Timeline 1 Day 1 - HTZ fails to breakout above the 2.87 and continues consolidating lower into the day
Key Takeaways One scenario is bullish, the other bearish. For this reason, I'd reccomend that if a breakout above the 2.87 occurs tomorrow, you use the $2.65 price point as a STOP LOSS
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SL hit - Don't have a read on current price action.
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Re-Entered in after hours - support at long-term anchored VWAP **2.27 per share** Stoploss at 2.03
lol you got them to bag hold, while we opened shorts on the way down after collecting gains on the way up. Next time do your research about the company and look at the finical sheet
TradeKingPro
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@hnbforex, you can’t read bro lol, has to hit 2.27 then put in SL. He was correct
TradeKingPro
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Am going in to find out, wish me luck guys!
Michaelftv
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I don't understand, It did break out above 2.87, was at 3.02..?