I am not going to type up much today, please see my prior posts for my bullish thesis on Wish. Last time I provided a large write up someone stole it word for word and posted it as their own idea across multiple platforms. I have no problem with anyone sharing my work, but I would expect you to credit me for it rather than claim it as your own.
Wish is now at the very end of its massive falling wedge. We are still seeing the same bullish divergences on RSI and MACD that we've seen for months. What's interesting is that the timing of Wish reaching the end of the falling wedge and the "announcement of its new CEO" are lining up perfectly. This announcement is supposed to take place prior to Feb 1, 2022. The reason I put the announcement of the new CEO is quotes is because things are starting to look more like a buyout than a CEO reveal. Regardless, it seems as though something large is brewing this week.
On top of that, there is a very large amount of open interest on a range of Wish calls expiring this Friday. More so than I've ever seen before with this stock. We're talking dozens of thousands of calls ranging from $5 a share to $30 a share. It is extremely unusual to have a new CEO/buyout announcement, the falling wedge I've been tracking for months with massive divergence, and very large bullish option interest all line up on the same week. Of course, this could always be a few days off given that we actually have two weeks before the CEO/buyout reveal deadline, but the timing this week makes the most sense to me.
Regardless of exactly when it happens, I am thinking we see a 50-100% move. I would also not be surprised if we jumped into the $7s and eventually filled the massive gap up in the low $9s. I am continuing to add shares and calls at these levels. Please keep in mind I've been wrong for months on Wish, so obviously I am not an expert. Do your own DD. Good luck!
Wish is now at the very end of its massive falling wedge. We are still seeing the same bullish divergences on RSI and MACD that we've seen for months. What's interesting is that the timing of Wish reaching the end of the falling wedge and the "announcement of its new CEO" are lining up perfectly. This announcement is supposed to take place prior to Feb 1, 2022. The reason I put the announcement of the new CEO is quotes is because things are starting to look more like a buyout than a CEO reveal. Regardless, it seems as though something large is brewing this week.
On top of that, there is a very large amount of open interest on a range of Wish calls expiring this Friday. More so than I've ever seen before with this stock. We're talking dozens of thousands of calls ranging from $5 a share to $30 a share. It is extremely unusual to have a new CEO/buyout announcement, the falling wedge I've been tracking for months with massive divergence, and very large bullish option interest all line up on the same week. Of course, this could always be a few days off given that we actually have two weeks before the CEO/buyout reveal deadline, but the timing this week makes the most sense to me.
Regardless of exactly when it happens, I am thinking we see a 50-100% move. I would also not be surprised if we jumped into the $7s and eventually filled the massive gap up in the low $9s. I am continuing to add shares and calls at these levels. Please keep in mind I've been wrong for months on Wish, so obviously I am not an expert. Do your own DD. Good luck!
Hopefully the new CEO is announced sooner rather than later.