Planning to hold as a growth play, will be buying around 48 and holding to the clear price "consolidation" areas at 54, 64 and 71.
Starting with caution, other patterns show further drop so will be looking for further long positions.
Main reason for buying is I'm trying to get in front of the inevitable hype that will come to this stock once people realize where it can go in the future with streaming and their already loyal customers for decades. I personally believe this is a great price for a company that will be here for a long time into the future.
Other various reasons for buying include: Bounced off of a clear long term support line on the weekly chart that I have not attached but you can very easily check yourself. The RSI is looking nice on mostly every interval. Moving averages are doing all kinds of things so I broke it down like this:
1. On the 1hr Chart it shows a bearish death cross but the price is bouncing off that weekly resistance.
2. On daily chart it shows the price bouncing off of the 200MA two days straight.
3. On the weekly it shows the price bouncing off the 200MA and another bounce at the weekly line.
4. Weekly also shows a potential bullish cross of the 50 and 200 MA in the near-ish future.
I added the FIB as a way to help me find a few of the buying spots I might choose and it's based off of the highest/lowest points between Mar 15th and the 26th.
Starting stop loss is 43.20 (10%).
Starting goal target is 54.
I am not a financial advisor so I am not telling you to buy, do whatever you want with your money but this is my pretty basic strategy on $VIAC.
Starting with caution, other patterns show further drop so will be looking for further long positions.
Main reason for buying is I'm trying to get in front of the inevitable hype that will come to this stock once people realize where it can go in the future with streaming and their already loyal customers for decades. I personally believe this is a great price for a company that will be here for a long time into the future.
Other various reasons for buying include: Bounced off of a clear long term support line on the weekly chart that I have not attached but you can very easily check yourself. The RSI is looking nice on mostly every interval. Moving averages are doing all kinds of things so I broke it down like this:
1. On the 1hr Chart it shows a bearish death cross but the price is bouncing off that weekly resistance.
2. On daily chart it shows the price bouncing off of the 200MA two days straight.
3. On the weekly it shows the price bouncing off the 200MA and another bounce at the weekly line.
4. Weekly also shows a potential bullish cross of the 50 and 200 MA in the near-ish future.
I added the FIB as a way to help me find a few of the buying spots I might choose and it's based off of the highest/lowest points between Mar 15th and the 26th.
Starting stop loss is 43.20 (10%).
Starting goal target is 54.
I am not a financial advisor so I am not telling you to buy, do whatever you want with your money but this is my pretty basic strategy on $VIAC.
Comment:
I actually did end up adding the weekly support line, white line at the very bottom .