Wish is entering a critical time period for shareholders. Earnings was moved up a day, causing an enormous volume spike and price increase to $6.25+, only to be sold off on low volume in the 5 days following off absolutely no news whatsoever. My outlook is currently long term bullish, with short term neutral to bearish with potential for large vertical spike. This seems like a false breakout of the bottom of this bull flag, RSI is now oversold, this stock seems to be beaten down relentlessly for no reason as a 30%+ drop after their horrible Q2 earnings should have priced in the company's current condition. I am long with a long term hold plan, this seems coiled up and ready to go at any time.
Bull thesis - 1. Buyout candidate for several major players at this valuation. 2. Enormous gap to fill at $9.40. 3. Oversold, beat up beyond anything logical (trades at 1x sales), and reversal seems to be taking place. 4. Prior Zach Morris pump candidate.
Bull thesis - 1. Buyout candidate for several major players at this valuation. 2. Enormous gap to fill at $9.40. 3. Oversold, beat up beyond anything logical (trades at 1x sales), and reversal seems to be taking place. 4. Prior Zach Morris pump candidate.
Comment:
Wish seems to be holding the upward trendline in my chart. Zooming out we are on the verge of breaking out of a much larger downward wedge. I think a large price movement is on its way, it might break before earnings. Beware of earnings - a miss could be a disaster for shareholders, but if they beat expectations, even slightly, this has potential to skyrocket. I will continue to hold I am expecting a slight beat on earnings and a catalyst for the recovery of this stock. I still believe it will fill the gap at $9.40