BehindTheTrade

#WISH is not a matter of IF, is a matter of WHEN!⏲ Get ready..🚀

Long
NASDAQ:WISH   ContextLogic Inc
Hi All, my main 3 take-outs from this analysis are the following:

1- I do not agree with those who say that Wish has no upcoming support and that it is in free fall! Not at all! The support is a static one, it is very visible in the daily chart , and it is shown in red. The lower trendline of the descending wedge is actually acting as support and the price is definitely feeling that floor

2- Despite the lower lows of prices, RSI is showing flat and even higher lows, which is a sign of loss of strenght by the sellers and possible reversal soon. So, to me is not a matter of IF, it is just a matter of WHEN!

3- The price might try to breakout upward the wedge ideally by the end of January, as the 2/3 of the wedge comes exactly in that area. In any case the price should be out of it by April the latest, as the apex is in that time area.

Not a financial advice, just personal opinion. Do your own due diligence and good luck!
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