Lets NOT get out of control with the expectations and when and where this should go. Lets instead play this level by level by level as we watch the movements and levels of the SPX and Nasdaq. This WILL give us our overall limits and projections we can work with UNTIL we get our OWN narrative to run on our own.
Pay attention to the levels for Support (S) and...
Will We “Affirm” ( NASDAQ:AFRM ) A New Direction This Week?
I strongly believe that a new direction will be affirmed for Affirm Holdings, Inc. (AFRM) this week. I've identified several reasons why I anticipate a new direction for the stock.
Bullish divergence on the daily chart.
AFRM is in the buy zone.
AFRM is in a range on the daily chart.
Outcome...
AFRM is another name that is in a basing faze as it tries to find its footing in this new world of interest rate hikes and yields rising.
Not a huge fan of their fundamentals, but may take a stab around the $50 mark if we get around that area for a swing back to $71. Possible it gets to $90 by august, $110 tops.
AFRM is a strong support position in the high 90s to 100s, with the recent probes into the BNPL sector considered old news, I see AFRM with some tailwinds and going upwards.
I am playing the same Fib retracement & EMA cloud setup on all my picks this week. Trying out a new strategy.
AFRM retraced to the .618 and reacted beautifully. Double bottom at the .618 plus the wick on Friday's candle shows it is a valid level of support. This area has been prior resistance turned to support so that gives me additional reason to believe we...
Good chance we see AFRM push towards the 223 levels to close gap, and possibly test new highs from there. In general there is strong momentum behind this name from good partnership with amazon and good earnings report.
Today, There is a chance if the general market sentiment is low for it to retest the support (shown on the arrows) and from there bounce back up...
AFRM is crushing every single target.
If you got back in - congrats.
This still looks like a no brainer long term hold as Amazon is taking over the world.
This looks like BIGC, AI and all these other "tech" unicorns pattern to me.
IPO ---> Cosmos ---> Laika ---> Get hit by an asteroid ---> troposphere ---> stratosphere ---> mesosphere ---> thermosphere ---> exosphere ---? your grandma's couch, cookies and milk ---> recharge and hello Laika again
