This stock has made many millennials super rich.....
First, read some news about this company here
Chart wise, it is precarious to go long for now as it is at an inflection point - a symmetrical triangle that can goes either way.
Note that is a gap to be filled at 35-40 level so if the price does break down, we can expect this level to be retested.
I can understand the thrill and excitement of buying such stocks as it provides a 800% return from 10 to 90, a 8 fold increase in share price. And the best part is it is over a relatively short period of time.
Like going to the casino, if you got lucky and win the first time off the table and go celebrate your winnings, would you be disciplined not to go again ?Or would you bring more capital with you, thinking you have the "skills to play the game" , that you had it figured out. That is the winning strategy of the casino.
It allows short term punters to win but because it is always open for business and they knew these punters would return with more money and would eventually lose/return all back to the casino.
We are mere mortals, driven by pleasures and stay away from pain as primitive creatures thousand of years ago. Whether you are donned in a suit or cargo pants, the hardwiring inbuilt in each and everyone of us is not easy to change.
And that is why a casino spend lots of money and time to design their space with food, beverages, entertainment ,etc with the whole idea of prolonging your stay, wanting you to spend your money one way or another. There is no escape the moment you go in............
Chart wise, it is precarious to go long for now as it is at an inflection point - a symmetrical triangle that can goes either way.
Note that is a gap to be filled at 35-40 level so if the price does break down, we can expect this level to be retested.
I can understand the thrill and excitement of buying such stocks as it provides a 800% return from 10 to 90, a 8 fold increase in share price. And the best part is it is over a relatively short period of time.
Like going to the casino, if you got lucky and win the first time off the table and go celebrate your winnings, would you be disciplined not to go again ?Or would you bring more capital with you, thinking you have the "skills to play the game" , that you had it figured out. That is the winning strategy of the casino.
It allows short term punters to win but because it is always open for business and they knew these punters would return with more money and would eventually lose/return all back to the casino.
We are mere mortals, driven by pleasures and stay away from pain as primitive creatures thousand of years ago. Whether you are donned in a suit or cargo pants, the hardwiring inbuilt in each and everyone of us is not easy to change.
And that is why a casino spend lots of money and time to design their space with food, beverages, entertainment ,etc with the whole idea of prolonging your stay, wanting you to spend your money one way or another. There is no escape the moment you go in............
Comment:
looks like it is heading south to fill up the gap
Comment:
gap is partially filled first time , it might come down to close it this time before rebounding.....be cautious
Comment:
gap is filled now and some support found at 30 price level. if you draw a diagonal bearish trend line from top, you would see that the price action has broke out around 34.99 level.