WIX came out with knock out earnings and formed a clear bull flag on the daily charts. The buy point on WIX for me is 354. I was triggered into the trade last Friday but the pattern still looks good and is still making higher lows. IF volume can push this name higher the first level of profit taking is around 365.
The level of consistency for bull flags increases...
Wix new price target: $ 404
When: Before Feb 23
Growth: 14.7 %
There is no clear bottom here, but the Stoch is showing some strength signal, if this is the bottom, then expect these results to happen...
Trade at your own risks
$WIX has successfully broke the descending triangle and heads higher .
Please note we have the earning day ahead .
#Trade_safe and keep learning until you succeed .
No matter what you said about the Stock-market , it is the biggest meritocracy in the world.
WIX Performed well in the last 5 years, and shows a strong bullish move.
Daily Chart - The Whole Picture (Line):
Since March 2020, WIX Moved rapidly from Trading zone 1, to Trading Zone 2, by single print move:
The Buyers took the price up into New Trading Zone which shows...
I'm watching WIX as it could break that down trend line any time.
I'll feel confident for an entry if we clear 273-274 (based on Ichimoku daily).
All price levels are on the chart (in blue).
Price is supported by a long term trend line and a rising 200 MA which is not far below.
The high level of demand for Wix's solutions and the resulting rapid revenue growth are impressive, but so is the strong cash flow the tech company is generating. The company currently expects total 2020 free cash flow to be between $122 to $127 million.
Zooming out over the past five years, Wix's annual free cash flow has risen from $14 million in 2015 to $127...
RIS at his overbought level and with divergence pattern might suggest us that WIX is ready to fall for some nice %'s. On top of this D frame, the Weekly chart is almost the same-RSI is tick above his 70 level, the price is more of 20% above MA200
Earnings approach this week and we hope to see WIX follow in the footsteps off SHOP and GDDY with some blowout numbers as online presence becomes a must in the shutdown economy and will continue to thrive as the consumer becomes more and more reliant on online shopping.
Wix.com Ltd. operates a cloud-based website design and development...