Get started
Click-Capital

$SIX Six Flags Oversold Contrarian Play

Long
Six Flags Entertainment Corporation New (NYSE:SIX)  
Click-Capital Updated   
NYSE:SIX   Six Flags Entertainment Corporation New
Chart Patterns Technical Indicators reversal oversold
0
0
chartpattern indicator reversal oversold
As a theme park operator Six Flags is being beat down with all stocks that could potentially be affected by the Omicron variant, however we believe there's no appetite for more lockdowns and most people will carry on with their lives so $SIX could be a good contrarian play here as the technicals are all lining up. Price is currently below the lower Buy Sell Band and more than 15% below it's 50 day MA, Range Strength is very strong at 15.59 and Hurst Exponent very low at 0.26 indicating the pricing is in a non-trending ranging mode which is good conditions for a long reversal play back up to the 50 day MA.
Comment:
Currently up 5.29% from yesterday, keep holding until we hit the 50 day MA.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.