This can go either way. My overall market sentiment is bearish, which is why I am short. However, if somehow this is an extension of a new wave forming this looks like it has room to run and break upper channel.
A few days before earnings, based on the location of the channel on the Gan Fan, the price should touch the yellow line ($504). You can also see that this is also the intersection between the price of $504 and the upper portion of the green candle on 02/12/2021 (new paradigm).
Earnings which would either dictate if it gets rejected or breaks through higher. As well as the overall broad market quality at that point in time.
Bearish Positioning:
If the trend continues downward, it should retest the lower channel and try and break below the lime green channel. Also, shown is that a few days before earnings, the stock would retest $450-$455. This also is where the bottom of the lower green candle on 02/12/2021 intersects the lower lime green channel.
I wish everyone luck!
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Huge red candle - I think it should drop sharply very soon
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Looks like its turning bullish -_-
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So Far So Good. $440 PT
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Other possible bounce - big resistance
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tricky tricky
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FACK!
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Looks like a cup and handle is forming, huge coil - this can break out --> sheesh
being bearish in this market is toughhh
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Once you update the bars you see this green candle touching the bottom of the fib.
red candles should follow then most likely bounce we shall see,
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LArge swinggg
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SHORTTTTT
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SUPER BULLISHHHHHHHHHHH
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GOING TO 392 TO FILL THE GAP!!
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December 3-7: Retesting Double Bottom Lows of $365
@Perma_Pig, Gonnna go back down to low 400sss doood
Duddle_In_a_Puck
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@Perma_Pig, LOOK AT THIS CHART!!! BRO!
Duddle_In_a_Puck
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@Perma_Pig, Check this price movement buddy, look if me missed the falling knive perhaps when things start looking up we hit this with some calls when it needs to fill the gap up to $520
UnknownUnicorn5511258
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@Duddle_In_a_Puck, i think tomorrow's the day for the at the money put long into next week. its now broken down pretty much every key level - so at the money will eliminate the only uncertainties that I see, which are:
1) how far and how fast can this drop? 2) if it is very fast, does it outpace the current premiums or is there a better deal out there that isnt pricing the future drop as well?
3) basically are the ATM put premiums at least 1/3rd of the potential drop that comes with a market-wide selloff?
If you think all three of these questions are still no-brainers, then ill plan on firing tomorrow on your confirmation of these.
Duddle_In_a_Puck
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@Perma_Pig, Agree brotherm this thing is bottoming out, one bullish swing think we can double downn
Duddle_In_a_Puck
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@Perma_Pig, Knew it was going to rip down again
similar red candle to previous bearish swing in price that enters a new Gann Channel. Previous day candle - long wick top closing below the channel boarder and a candle that lands in-between channels.
@Perma_Pig, Well now this is tricky I would straddle, it can break the low channel again and fill the gap at $365 or this is now rocketing to $430. Looks like it jumped up big then investors took big profits. I say to ambiguous to even trade.