LIFW is a stock to watch this week

BATS:LIFW   MSP Recovery, Inc.
Interesting setup here, as we have support, setup in an area that can easily lead to a big gain. The Weekly RSI just crossed up. The daily RSI is overvalued, but still pumping. This suggests that we might see a final push as those last big holders exit, before another huge drop.

That green bullish trend line is likely going to be the buy/sell line. If that holds up on your trading timeline, I'd consider a trade entry. After the break of that trend, you'll likely see a bounce off one of the green lines, with a return to the bottom side of the trend.

IT is at that point, upon conformation of price action, that we will favor the bearish position until a new bullish trend is picked up. Until a break of the green trend line, favor bullish positions. LIFW

Personally, I could see the stock breaking downward in the short term, and bouncing somewhere around that .17 area, and which would setup a nice bounce back to the bottom side trend. I'm not totally sure about this yet, as I can't quite see the move developing yet. Be prepared to trade in 2 directions as it could move either way.

Big potential on the upside to double, and bigger potential due to recent volume. However, there is definitely going to be a big drop from that bearish trend line, it's quite strong. I'd exit immediately and reset positions upon hitting that line. You might miss a small percentage, but it's a solid exit point to limit emotion trading and securing profits.
We got the drop past trend and the return bounce.
We will now be favoring the BEARISH position.

Hard to say, but it looks like this correction is wanting to break to the downside.
I like the potential to see the price be driven down to .136
Be careful, lots of rejection points leading to this week being not so great.


Cashapp: $nicktussing
Venmo: @nicktussing
Donations appreciated, NOT AT ALL REQUIRED OR EXPECTED.

Cashapp enters my YOLO account.
Venmo gets donated to the local Animal Shelter.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.