Yes, WISH is getting cheaper for us, which is good! I don’t see the 12.10 as a breakpoint anymore, because we traded above it yesterday, and we lost the support at 11.57 today. This tells us that WISH is pretty weak, despite the divergences seen on the RSI, and the fact it looks oversold. That’s not good, but when will we buy WISH again? The answer: If it does...
Ok, we have no buy signs triggered here, and WISH is just falling. But when will it stop falling? The good news is that it is doing a double bottom in the 30min, and the RSI is a little oversold. We do have a weak bullish divergence too. The 12.10 is the breakpoint for WISH, again. By breaking it, it’ll start to climb again. The 4h chart is interesting. We are...
Ok, WISH didn’t trigger the buy sign we talked about yesterday (the supposed Spinning Bottom), and we dropped more. Now we are holding around the 12.10 again, and we have signs of bearish tiredness. The RSI looks oversold, and I see the 12.53 as a nice trigger. This could save WISH for now, but keep in mind that it could drop more. The 4h chart is not oversold...
If you are in $WISH today, here is the playbook many ELLIOTT WAVE traders are using. Some variations had buy zones all the way down to $11.80. The low of the day thus far is $11.95. Now watching to see if this retracement level holds, it could signal a coming bullish wave to $17.50 area.
The pullback continues, but the mission remains the same; the fundamentals remain the same. This is nothing more than an opportunity to load up more shares. Reminder: 7.7B market cap. Last quarter revenue: 772 million... This is a stock you hold when you can get it at these prices. I am expecting the local bottom to form at $11.30ish as there is a nice volume...
And some think TA doesn’t work! WISH did exactly what we talked about in my last analysis: Corrected to the 13, because it was our next support, and it is also at the 20ma in the 4h chart. Now we do have a good reaction, as we expected, but we must wait for the confirmation. If WISH breaks the 13.67 I see this as another buy sign! We have a spinning bottom...
Bulls are looking for prices to bounce off the rising 10 day EMA while Bears are hoping to push prices lower. There are several technical and fundamental indicators which point to higher prices ahead, but first, this issue must be resolved during trading on Wednesday June 30, 2021.
Using a BARS PATTERN approach we have came up with a price movement scenario based on past behaviors and double checked against trendlines and support resistance to come up with this PREDICTION (blue bars) of price movement for $WISH. This predictive model does not account for any potential SHORT SQUEEZE or GAMMA SQUEEZE which other experts in FINTWIT are...
Ok, WISH hit the 13.80 as we thought it would, and it is below this level right now. That’s fine, now I see the 13 as the next support, and look at the RSI – it is starting to get oversold again! Any reversal pattern around will be a buy sign for us. And this will be perfect, because the 13 is also the 20ma in the 4h chart. The 30min and 4h charts were too...
Yes, we nailed another target! Now what? WISH is correcting a little bit, and it can hit the 13.80 again. I still see it bullish, and if it drops there again, it is a buy in my opinion. A late buy, but a buy! 😉 If WISH breaks the 15 again, then we’ll see a continuation of the rally to the 20s, as we already talked about. WISH is doing great. I’ll keep you...
This is just a consolidation. A normal movement that occurs when something did an amazing movement. It is how the market tells us that the stock is resting. There’s nothing to worry about here, and since we are above the 20ma, we are fine, and the momentum is bullish. The 20ma is a support for us here, and it seems WISH will hit it next, before it hits our first...
Again, WISH traded around the 13 area today, and it did a false breakout (when the price closes outside, but it reacts and closes above the support again). This is a buy set up. It did break the red line and the Bollinger bands are finally spreading apart, which is amazing! Our first buy sign was around 12.10, as I said in my first analysis on WISH. The RSI...
It is going to hit our target, guys! The 13 is a new support for WISH, and the BB are getting tight again! The volatility is diminishing, and soon we’ll see this stock exploding again. Our entry point was around 12.10, and our target is the 15. The red line is another breakpoint for us, and once broken, most likely it’ll hit our target. We are almost at the...
Brokerage firms use ratings when they issue stock recommendations to stock traders. The usually have 1 year target from the moment the release the Ratings. On 5/13/2021 Credit Suisse Group Brokerage Lowered the Price Target from $31.00 to $24.00 and Outperform Rating On 3/9/2021 Citigroup Brokerage Lowered the Price Target from $24.00 to $20.00 On...
Ok, WISH did break the pivot we mentioned (12.10), and it triggered the buy sign! Now we are off to the 15! Today’s movement was good, but since it was a bit overbought, now it is doing a correction. The 4h chart is starting to show us a good movement as well, and it is easy to see why the 15 is our target (previous top). The RSI is a overbought too, but I...
In an article published June 7th, entitled "ContextLogic Inc. 's (NASDAQ:WISH) Lock-Up Period Set To Expire on June 14th" MarketBeat told readers incorrectly that "ContextLogic's (NASDAQ:WISH) lock-up period is set to expire on Monday, June 14th. ContextLogic had issued 46,000,000 shares in its IPO on December 16th. The total size of the offering was...
WISH stock went up 86% in 2 days! Currently hovering $10.50/share. We're likely to see incoming short-squeeze play in days/weeks ahead. Still decent level to accumulate.. Our own projection is that WISH will test $15 resistance level again. Once it maintains $15, we're likely to hit $18, then if short-squeeze is in progress, we're looking past $25/share on...
WISH looks like it can go higher here, it has big short on it @ around 11-12% of the total float. If it has a better than expected earnings and can build momentum I will look for 100% upside on this trade.