Been holding the bag since the lasts ER. Looks ready for a breakout! - Tested and hold the support at 27 a couple of times - Long bottom trendline has been held and bounced off - Short bottom trendline has been held - Short top trendline is about to be surpassed - Downwards momentum is fading - 20 day EMA is about to be surpassed. - We've seen more green days...
DESCENDING WEDGE SHOWING BULLISH DIVERGENCE ON DAILY.
Earnings Report on September 3rd
Slack stock (WORK) has been setting up a really nice Cup & Handle, I recommend keeping your eyes on it! We HAVE to make sure it breaks upwards with volume before trading on it.
What i think $work will do in the next few weeks. (Assume the buy zone holds) (Not financial advice)
TA: Short Term Downward trend but currently sitting at support zone; good place to enter with stop losses set diligently below. Has been following Fib Retracement levels on moves up and thus why I have outlined the target area due to the downward trendline and the fib retracement level. -Megalodon (Rahim) PS: Don't take this for Gospel, manage risk accordingly...
In the last two months Slack has just been consolidating inside a bullish pennant while bouncing off its 382, which was also the key resistance level for all of Q1 2020 (notice it tested it 5 times before finally breaking out to ~$40 per share). This Friday, Slack closed just under the 50DSM. My guess is it'll breakout of this potential pennant soon. It may have...
WORK - Long Call play here after a long consolidation in primary wave 4 ABCDE, break to upside of broadening wedge with targets at .786 and 1 fib levels. In 9/18 $35 calls for an earnings anticipation and technical breakout.
There are 2 levels of strong support, $26 and $30. There is a trendline. There is an unfilled gap between $36-38. I'm excited about this stock for the long-term, but if $26 breaks I will reassess. In the meantime, I am accumulating.
$WORK A name I owned in the 20's but bailed on has quietly based into the 34 handle, is bull flagging with confirmed higher lows, and seems ready to bust out. Target another 15-20 from here.
Work notes in chart. I have position around 32 levels. A red to green above 40 should be a good buy.
Alright guys this one is an easy lesson about gaps... they will be filled... Work bounced off the resistance and now has a high chance of filling the gap back up to $37, MACD is already at a call signal and RSI is low, in a demand zone. This should be a logical, easy to understand play. Any questions DM me, or if you want to join the paid trading group.
i have been following this since the gap, last week GS downgrade $work to $30 , i believe it was strange downgrade for the stock like intentionally they want the price to be around the $30ish to kill all options traders, it's great company and it's work from home stock! technically speaking the stock set on very strong support the yellow trend line since April,...