There was some hype about this stock after the news of Nancy Pelosi getting in on the action in the options market after the infamous slam dunk on the NVDIA stock, so I decided to russell up a little exotic background for the future that might come. As you can see I don't envision a highly bullish path for this one on the longer run, it could get bumpy, but this is good news, as swings can be traded with the right pivots. Considering the background and the hype, it is possible that after any drop, the herd will dive in hoping to buy the dip. Hence, swings and bounces, even though I have a high rectangle lurking above signifying resistance.
All elements in the snapshot are potential support and resistance while the curves might highlight bigger forces at play that can influence the price. If these elements are broken, the picture changes.
I decided to post now because I like the setup at the green rectangle I developed right after the news of the Pelosi bet (several days ago). Since then I have been watching this stock and was wondering what will actually happen in this murky water of cybersecurity, which is a sector I am highly bullish biased on for several reasons.
Happy hunting. Hope it will be as successful as the Pin Ball on Apple. That one has already 4 or 5 bounces from shapes.
All elements in the snapshot are potential support and resistance while the curves might highlight bigger forces at play that can influence the price. If these elements are broken, the picture changes.
I decided to post now because I like the setup at the green rectangle I developed right after the news of the Pelosi bet (several days ago). Since then I have been watching this stock and was wondering what will actually happen in this murky water of cybersecurity, which is a sector I am highly bullish biased on for several reasons.
Happy hunting. Hope it will be as successful as the Pin Ball on Apple. That one has already 4 or 5 bounces from shapes.
Comment:
The green rectangle has been holding as support and it is now over. This needs a green candle to start a potential bull wave, otherwise it could just fall of this rectangle.
Comment:
Let's see if the mood and/or volatility changes at the vertical rectangle.
Comment:
Change of mood at the vertical rectangle, but no big increase in volatility and momentum. Not sure if the blue one will get to be tested before visiting the red. I can see the red becoming the next playground if the bulls don't get scared and let the bears crush it.
Comment:
Interesting pivot at the red. Will the price get squeezed in this zone between it and the blue curve? I don't know if it will have momentum to jump out in either direction. Let's see if the blue holds if it keeps this mood.
Comment:
Envisioned squeezed scenario becomes reality between the red and the blue curve. I think we should pay careful attention to what can happen after the red rectangle ends, where it meets the curve. The price could pop hard in either direction. I am biased short because of the uncertainty in the Middle East that can shake the whole global scene, but this bias can obviously be inaccurate.
Comment:
We have liftoff. This could touch 323 eventually. I don't know if there will be any retests looking back at this zone, and I am also not convinced of the overall sentiment in the market regarding momentum. Also, the pop happened sooner than initially envisioned so it doesn't seem to be following the script so anything can happen...
Comment:
The lower edge of the red rectangle playground acted as resistance twice, then retested with a bounce. Upper edge seems to be causing some trouble for the bulls, but my guess is they can eventually break through at least towards 310. Time will tell. For now I will be ignoring the blue curve as potential support for a retest. Don't even know if it will be relevant until the red vertical time stamp which could coincide with a change in mood sentiment or volatility, right before the earnings report.
