You can follow the ceo on twitter. He often has live streams where he obviously talks about his company among other things. He also gives away a lot of money. It seems he genuinely cares and enjoys giving away money. It seems partly for his image, but imo, he created a win/win. With the amount of money he has given away, he's earned some good publicity. (I've never received money as a disclaimer, I mention this because a lot of his twitter feed is about giving) He talks about GME and BBBY often. Flys a chopper. Won't give me a ride. For his stock. Honestly, he seems awesome, but his stock is getting to the scary zone. Now, I say this because even though it is a scary zone, there is a lot of potential upside momentum can carry the price to. So, earnings on the 23th is important to note. It will likely have an effect on price. I assume from the looks of things, price might see a decent upside movement to 125-145 range and then see a significant downside before recovery. I think I labeled most of the important things on the chart.
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careful as we push into this rejection trend as we head into earnings. A breakout could take it up to 145 and a rejection could take it down to 70. hard to say atm, but our trade on this stock started around $73, so we're at a decent profit and there is no shame closing a trade and being patient to see what happens.
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Friday's closing price may have put price action to the 125 mark, but ultimately, I still see it heading down similar to the picture once the upside stops.
@mindfulnessmeditation777, Good question. It doesn't look great tbh. BUT it doesn't look doom and gloom quite yet. There is some strong support on the downside, but there is also limited upside (probably no longer looking at 170 anymore). Strong downtrend, leading to bigger support. Support has broken under before, so it's possible. Earnings has seen a lot of 40% moves, so this fits. I've got price to like maybe 92, 71, and then 49.99
It would look something like this. Otherwise, the next midterm target is 120, and then the bigger target is 128 to 131. It will be a strong rejection zone probably.
Initial reaction is favoring the short side.
mindfulnessmeditation777
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I think it will break out higher to 130 to 140 area now that we are in a bull market because Powell is going to cut rates. Will be bullish for homebuilders obviously.