Wayfair Inc. engages in the e-commerce business in the United States, Europe, and internationally.
The share price rose after good earnings. I see some preconditions the share price will continue growing.
The demand for shares of the company looks higher than the supply.
These and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $181,7; stop-loss — $163,18.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
@KozakHlib, Thanks for answering but my question was since this is blue sky breakout there is no resistence but rsi on daily weekly hrly is overextended at what price do you think a dip or a crash will happen?
KozakHlib
⋅
@biplav32, is was short-ran momentum trade. I closed it yesterday, the sellers become stronger.