TradeTheTrends

WISH, TIME TO BUY?

Long
NASDAQ:WISH   ContextLogic Inc
Hello fellow traders and investors, here's another trade idea.
WISH has recently pulled back and if it makes a full recovery it offers around a 65% ROI but if it gets to resistance and it gets rejected then that offers around a 25 to 30% ROI .

Technicals:
The Macd indicates that WISH is oversold
The EMA's indicate that WISH is in a downtrend

When To Buy:
When EMA's crossover
When the Macd indicates a reversal by crossing its EMA

When To Sell:
If it rejects the resistance then I recommend selling however if it keeps pushing through then I recommend selling at the take-profit zone.

Fundamentals: WISH is one of the largest and fastest-growing global e-commerce platforms, connecting more than 100 million monthly active users. WISH sells lower-end products at a more affordable price. They have amazing growth of 33% Q/Q. WISH was founded in 2010 and has since been growing into a successful billion-dollar company.

I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow and comment your thoughts.
Thanks.

Comments

interesting...will buy some, thanks!
+1 Reply
@foxbelex Beware that it could also form a head and shoulders pattern and make sure to wait for confirmation. Good luck :)
Reply
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