Clearly a larger harmonic structure at play here. There's no telling yet what exactly is forming, but I outlined a Bearish Bat pattern to 1) give me hopium that selling will end around $8.15 and 2) with COVID, it's only fitting the chart would form a bat.
We've been in this descending channel for the entirety of July so far. I expect this to breakout and turn sideways until early August, where I then expect us to start making higher lows. I expect price to rise to $12 in August.
Fundamental analysis:
With the delta variant spreading, we could potentially see another lockdown (rare), and that would expedite this trade as ecommerce will once again lead the way.
WISH might hire a new CFO with commendable credentials and the market might react well to it.
WISH might announce a very good Q2 report on August 11th and once again prove its value.
How I am trading it:
I am already deep into WISH as-is, but I am looking to add more here and around $8.15 and lower if I can get it that cheap. I do not plan on selling this company as long as it's fundamentals stay true. Long term target: $28
@Gpap90, not sure if it goes that far, but 100$ seems for as a good long term target. :)
djimenez2020
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What are you doing with WISH? You sell, adding more?
Midyanyy
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@thejdela The stock made a deeper dip then you expected. Are you still invested, or is the investment story broken from your opinion? P.S. I'm still in and adding more