SLGG - the new gaming platform, we are scalping it for 3 days

SLGG :
Love this stock! it’s a sneak attack!
Fundamentals :
Gaming platform that will monetize on the amateur to pro gamers by ads, tournaments, and eventually with subscription base. The gamers world is valued at 15B at the moment and if they will get 10% of that sector to pay as little as 5$ per month that could be massive -but that is very far of where they are at this point of time.
They have collaboration with big names such as Fortnite, Clash Royale, battleground.
They have media partners like Nick, twitch, Netflix, Instagram and sony.
They have 5M monthly hours of viewers engagements, 2.4M members on social media and 3M subscribers.
There is a lot of potential in this company and can be the next DraftKings of gaming world or the next Netflix of paid streaming.

Let's talk technicals :
1. first we have a steady strong trend up for 90 days with 77% rise, that took place between 3rd of Dec till 25th of Feb. that showed stability growth on catalyst!
2. Massive jump-started on the 1st of march – hate seeing that cause that took our stability away and put us in hype mode – prob the Reddit pump…
3. RSI overbought but has bit more left in it
4. VWAP at 5.6 – not good pullback to that area probably today!
5. Needless to say ADX is trending strong
6. Notice POC level is exactly on the 50% line (if you put only the relevant price action in the chart after the jump)
What now?
So now we have a jump of another 108% in 1.5 days of trading – not great! that means the drop will be just as massive – we will need to have a pullback to 5.3 (50%) in order to enter again and trade it stable..
Meantime we will just scalp it with a tight S/L and wait for the drop
Once drop happens we will see a 5.3 support level and we need to watch closely to see if it breaks that level down – if it does it cannot go below 4.6! if 4.6 is crossed we will see a gap fill all the way to 4.00
Which then I plan to buy the dip and go big! (not a recommendation!)
If we don’t see a break on the 50% line (5.3) we will converge on that level and start seeing an uptrend with stability towards the 7$ again – WE NEED TO conquer the 7$ stable for this stock to rally on.
The union is long on this stock because of catalyst and not because of a pump or anything else I think this stock can be worth over 30$ in less then a years time.
Volume analysis :
3 months avg : 2.56M
Gap up jump : 27M !!!
Yesterday trading session: 9M
The last 3 days of trading : 3.7M
Meaning volume is way higher and showing stability of hype in the stock in the last 3 days and if volume stays around 3M and above stock will keep trending (can be a massive trend down also -volume is not a bul or bear its just showing interest don’t forget that !)
FREE FLOAT: 18M
Not too small, not big !
Short interest -21% (460,000 from 584,900)
Short lowered since catalyst is big so bears pulled back – a good sign for more upside room till they will enter again
An important point to look at :
So Jung Mark a director in the company has bought over 9 times in 2019 and currently holding over 50k shares.

Trade safe and be safe! see you on the other side of the bear market, and stay strong!