Base on Technical Analysis, after FUTU did a fake breakout, the price is trading at 145$.
FUTU is trading sideway in 17 weeks on the weekly chart. I believe FUTU would backtest the strong support level at $130, and then bounce to the $200 as the previous ATH.
Therefore, I would enter FUTU in the $120 - $130 range when the price action is a bullish candle, my...
Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program.
While Robinhood gets most of the hype in the US, Chinese wealth management platform Futu Holdings...
15/Jun/2021 08:22 AM AUTHOR: Brandon Gum
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There seems to be some rotation into growth possibly under way. If we continue to see this inflow this name will perform well.
2 stop loss trade mgmt here, marked in pink.
Measured move target.
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FUTU gapped up today and showed strength. I like it long if price can stay in and above the green box. Would not be surprised to see a move back to 130, but would expect a quick recovery. Targets would be 148 and 161. Not interested if price falls below 130 again. Risk management with this ticker is paramount as this is a high beta name which can make large swings.
Joining the hottest sector of crypto trading and big positive surprise in Q1 ER makes FUTU great candidate for long-term LONG story.
Futu Holdings Ltd., the fast-growing Chinese brokerage and Robinhood rival, plans to offer cryptocurrency trading to “international clients” later this year, according to executives.
Entry: 120-124
SL: 117
PT: 150-160 (+30%)
R/R: 7
If price can go above 130 without dropping below the 78.6% Fib level at 113 and of course the invalidation level at 100, it has a high chance of making a new high.
Above 130 I would look for a move above 143-ish before going for 178 then 200
Contextual immersion trading strategy idea.
Futu Holdings Limited operates digitized brokerage and wealth management platform in Hong Kong, China, the United States, and internationally.
The demand for shares of the company looks higher than the supply.
This and other conditions can cause a rise in the share price in the next weeks.
So I opened a long...
Back watching FUTU for a pre earnings run. I like the way it has been tightening up below 160. A break above 159 could yield a move 162 quickly. A break above 162 could then make a bigger run to 180/182. Be careful with this one. It has massive range. If price were to break below 139 it could end up back below 120 very quickly.
