I annotated this chart so hard this time and I know its annoying to look at...but you have your own clean screens to look at it... This should atleast explain what I see and help those who don't know, what to look for. I accidentally came across this chart because I was trying to type bili bili but when i saw the chart with my ESVO lines on it I was like I have to play it. So for me this is just an update to this play that I got into a week ago. Obviously it looks a lot better now that we are here. And I never once thought my bias was wrong as you can tell it didn't want to dump. Because if it did want to it would have. The price was always withing a dollar or a dollar and change to the entry. Now that it has come back to this area I broke down everything the lines are telling me plus everything I see with the amount of space that I have to work with. I could go into about 5 other kinds of trading styles and break those down but I figure I will just leave it at this. Its bullish! All the other stocks in the group are moving with it. So that tells me that big money has been fostering this group of stocks to get it to this point over the last year or less. Since the last highest high.
So that should tell you there is a pile of shorts up there that need to be covered for them to continue this move up above that. unless there is a massive surge of volume it might take a while to consolidate all of them. I will be looking for a trend line that this will be tapping into over the duration of this move. And also a trend change which shows that liquidation of shares has begone and that we should be looking for an exit.
I do think this could take another 3-6 months to complete. all of the hot areas for this stock are marked on this chart with the exception of the three just below our current price. And Current Price of HKEX:26 this weeks highest volume area $24 Automatic, Session, Daily, Highest High HKEX:23 Daily. Weekly HKEX:22 Highest Low all great supports as they are all stacked under us.
If nothing else I think we should hit HKEX:30 however, HKEX:38 and $41.50 are also huge areas of untapped stop losses and pockets of retailers waiting. by iCantw84it 04.17.23
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This is taking a detour it seems....all electric vehicle stocks are being rerouted the long way around, pls stand by
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So it broke out of the top channel first and so it must go down how far down is based on retail fomoing in..... I wills ay that it needed to go down before it can go up. So this is just an exagerated version of that move. Honestly, for future ref. a more elegant way to handle these types of things is to do a put when it breaks out of channel up top and set it out for 2 weeks. let it ride. it should be rather cheap at taht point and you can close it out when it starts to show support... if you open 2 you can leave one running incase there is another run down. this will pay for any loses you might sustain on the way down with your Call. And to really geta gauge on this thing use a weekly chart to see overall direction and then daily, and maybe wait till you are out of phase b before jumping in like I did on this one....smh I will try and catch the bottom here and let you know where that should be.
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Come on.... $26 to $30 with another potential $4 to go or more..... I think this deserves some boosts if not some follows and likes. Like printing Money on this trade.
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You know what my problem is.... I see so far into to the future I get bored and move on.... lol pls let me know if you want me to update this.
Great content looking forward to your updates on LI
yazeed9900
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I sold all my shares at $28.75, made around 42% since October.
I appreciate you follow up.
iCantw84it
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This one has hit the $30 mark and needs to reaccumulate to break through. So a minor pull back here is expected as it tries to gather new stronger hands to break through.
yazeed9900
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I appreciate your updates and efforts.
iCantw84it
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@yazeed9900, Thank You Sometimes I think I am speaking out into space......so I do appreciate the comments. Do you have anything else I can chart for you?