Hello, last TA played out fine, but alot of people wonder if this was just a pump and dump. To me TA never lies if you understand volume and support and resistance levels. There was massive acculation in the .72-.77 range for weeks and on Friday there was two buy orders of a million shares a piece. A PnD woudnt put in two buys, its multiple buy orders hitting at once with volume increasing till the PnD. Was this news related? No cause the news was already old news by over 24hrs after release, so with that we can expect some more bullish momentum coming up.
I drew more support lines since its how i traded, but what can we suspect?
-Well we have a range between .82-.86 as shown by the red box of after market
-.82 is an area of high vpvr, which means high trading range that goes as high of .84 and as low as of .8. Shooting up to .86 last trade can be shown as theres no sellers in this range , which next high vpvr level is .909
-TradingView switched from sell to netural
-Support levels based on VPVR levels is .81-.82, low is back to prepump at .76
-To maintain above the 50ema on the hourly is hold above .8, which we sit and the uptrend low to remain bullish on Monday is .84
-Targets short term are 1.09-1.23 with a high of 1.41
-RSI is trending under but above the 50, so it is overbought
-MACD is Bullish
Now there are 3 other targets from CNN money, MarketWatch, and Webull analysis at $5, $7.5, and $18. Thats too long term and would like to see more bullish momentum to even start thinking about those prices, yet we can be bullish after those two 1 million share buys. Also googling their financials Cash on hand and Revenue as increased as of cost of operations have decreased.
Conclusion is remaining bullish and I did sell some and rebought to increase my postion. I still think theres a great future for this company as US reopens they will boom, since they do most of their business with the US.
I drew more support lines since its how i traded, but what can we suspect?
-Well we have a range between .82-.86 as shown by the red box of after market
-.82 is an area of high vpvr, which means high trading range that goes as high of .84 and as low as of .8. Shooting up to .86 last trade can be shown as theres no sellers in this range , which next high vpvr level is .909
-TradingView switched from sell to netural
-Support levels based on VPVR levels is .81-.82, low is back to prepump at .76
-To maintain above the 50ema on the hourly is hold above .8, which we sit and the uptrend low to remain bullish on Monday is .84
-Targets short term are 1.09-1.23 with a high of 1.41
-RSI is trending under but above the 50, so it is overbought
-MACD is Bullish
Now there are 3 other targets from CNN money, MarketWatch, and Webull analysis at $5, $7.5, and $18. Thats too long term and would like to see more bullish momentum to even start thinking about those prices, yet we can be bullish after those two 1 million share buys. Also googling their financials Cash on hand and Revenue as increased as of cost of operations have decreased.
Conclusion is remaining bullish and I did sell some and rebought to increase my postion. I still think theres a great future for this company as US reopens they will boom, since they do most of their business with the US.
