Techreturns

$U Rising Wedge | Short down to $100

Short
NYSE:U   UNITY SOFTWARE INC
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12
Love the company but $U forming a clear rising wedge , volume declining as it finds resistance at $130. Looking for $100 and will go long there.

BTO December $100P avg $1.
Comment: Trade closed for now at $.70 - $U goes higher. Target should be $145/$150 if it breaks up.
Disclaimer: This account and post are not intended as trading advice and are for educational and informational purposes only.

Comments

would say 104. 105, but sure it looks like it will go down quite a bit!
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Techreturns Edulindolo
@Edulindolo no this setup is invalidated as the wedge broke resistance then broke out. If it can reject $150 we can see $130/$120 again
Reply
Edulindolo Techreturns
@Techreturns,
Nice one, you got it
Reply
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