Not a financial advisor.
I post my thoughts.
So the daily candle wasn't an idea close, personally I was hoping to close over $7.51.
I do have a previous post stating that WISH is coming out of falling wedge pattern - or nearly out of a falling wedge
We saw a textbook Shooting Star candle, rise in price and don't close the day strong - sellers get the price to drop a little more than we wanted at the end before close. However that doesn't necessarily mean we go down tomorrow.
Something to watch for is 9/7/21 day high to break. If it doesn't we will likely see a continued downtrend, due to the previous day doji. If it breaks above todays high, well then we most likely saw a false reversal.
Overall, I'm bullish here longterm. Short term presents many risks, so for those willing to enter must know that this isn't an ideal set up.
I entered nearly 2 weeks ago after a reversal. Tomorrow is an important day for WISH. If price confirms down trend watch for a reversal to close the week. If we break todays high watch for this to possibly gap up in the short term. (I am bullish short term - just mentioning both sides)
I do personally think due to the current state of the weekly candle, that we continue to see uptrend carry over this week. However other things in the market could also lead to WISH having a shake up this week. Watch the NDAQ, I believe that finished with a bearish candle for the daily chart. Could lead to a shake up in WISH short term.
Remember this is a high risk currently, so trade or invest with caution. I expect a lot of volatility in the short term.
I'm trading WISH, Short term I'm looking for $10 price target which would be a little over $9.80 due to the 200 MA on the (4hour char)
I do also have a price target of $16.35 mid term.
I believe a big break will happen after $8.12 (hope to gap up /halt)
Important numbers I'm looking for $7.75, $7.88, $8.12, $8.42, $8.95 and more.
RSI 42
Stoch dragging across the top on daily, Ideal for strength to follow.
Momentum reached positive levels yet low
MACD bullish
Good luck to all here, curious to see how this plays out the rest of the week. I am looking to be here long term, trading momentum throughout the process.
Feel free to comment your thoughts. All ideas welcomed.
I post my thoughts.
So the daily candle wasn't an idea close, personally I was hoping to close over $7.51.
I do have a previous post stating that WISH is coming out of falling wedge pattern - or nearly out of a falling wedge
We saw a textbook Shooting Star candle, rise in price and don't close the day strong - sellers get the price to drop a little more than we wanted at the end before close. However that doesn't necessarily mean we go down tomorrow.
Something to watch for is 9/7/21 day high to break. If it doesn't we will likely see a continued downtrend, due to the previous day doji. If it breaks above todays high, well then we most likely saw a false reversal.
Overall, I'm bullish here longterm. Short term presents many risks, so for those willing to enter must know that this isn't an ideal set up.
I entered nearly 2 weeks ago after a reversal. Tomorrow is an important day for WISH. If price confirms down trend watch for a reversal to close the week. If we break todays high watch for this to possibly gap up in the short term. (I am bullish short term - just mentioning both sides)
I do personally think due to the current state of the weekly candle, that we continue to see uptrend carry over this week. However other things in the market could also lead to WISH having a shake up this week. Watch the NDAQ, I believe that finished with a bearish candle for the daily chart. Could lead to a shake up in WISH short term.
Remember this is a high risk currently, so trade or invest with caution. I expect a lot of volatility in the short term.
I'm trading WISH, Short term I'm looking for $10 price target which would be a little over $9.80 due to the 200 MA on the (4hour char)
I do also have a price target of $16.35 mid term.
I believe a big break will happen after $8.12 (hope to gap up /halt)
Important numbers I'm looking for $7.75, $7.88, $8.12, $8.42, $8.95 and more.
RSI 42
Stoch dragging across the top on daily, Ideal for strength to follow.
Momentum reached positive levels yet low
MACD bullish
Good luck to all here, curious to see how this plays out the rest of the week. I am looking to be here long term, trading momentum throughout the process.
Feel free to comment your thoughts. All ideas welcomed.
Lets see how much volume this gets over the next few days. Started trending across stocktwits at the bell close.