Yes, $MVIS made some killer moves this last week. If you're holding options, or shares it's time to hop off.
$MVIS rolls in a super nice stagnant channel. Technical traders rely on the tenant that history will repeat itself.
Don't get caught holding the bag on this boy. If you've been long: TAKE PROFIT NOW.
If you like the short game, now is a nice time to open a position. I think I might... Look to the $13.10 levels to make some cheddar.
Resistance has shown to be quite formidable and this boyo is really playing out to be a technical trader's dream. If you believe in the stock and if you believe in the plan - execute it with confidence. I don't see the bull run continuing past now.
Have an entry. Have an exit. If you go short - use a stop loss.
Technicals:
on a 30 minute chart - RSI has peaked and is gonna fall into range.
MACD crossover is imminent - plain as day
That channel is GOOOOOOOOOOOLLLLLLDDDDDD... see the chart.
Like if you like. Not an expert - just my idea, and I take my ideas to the BANK!
Comment
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Well..... that went about as backwards as it could have gone. Insane volume came through today and blew my idea to shreds. I cut loss early and I'm gonna take another shot at the top.
Opposite direction buddy. Lost some brain cells fellow devil dog? jk semper fi. happy trading
robvanhoven
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Thank you! I didn't realize the stock reaches 19.30$ on a regular basis, so it's quite easy to take the risk and hold - now that everyone is talking about it, there are zero shares to short and the big microsoft contract. If it doesn't break 20$ this time, I surely take my chance to double down at 11.50$ and then sell 70% at 19.30$ in 2 Weeks, so I can ride it out on the banks money. Thanks again, great analysis!
nowthatsawelt
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One huge problem with your theory...there are literally zero shares to short and the interest rate is around 40% to borrow.