Chart pattern says wait for the hourly to go overbought then short, lol. Nobody wants to own this PoS, it's just short covering today and probably tomorrow. Might buy puts again if it hits gap resistance at $14.5 Depends on what else is going on.
GOTU has been a bleeding for the past few days and even weeks. after finally waiting for a confirmation of a reversal I believe now we might see it. The possible double bottom on the daily chart is giving me a good feeling to go long. Recently we looked up a high volume of long calls being purchased by institutions so lots of bullish signals on this stock. if GOTU...
$GOTU had some interesting call buying in the 25C and 30C. Might have missed the move already but it's worth keeping an eye on this setup for continuation.
GSX Techedu Inc is a technology-driven education company with core expertise in online K-12 courses. Its K-12 courses cover all primary and secondary grades. It also offers foreign language, professional, and interest courses. The company's segment includes the provision of education services. It operates solely in the PRC and all assets are located in the...
Here's one for kicks and giggles, GOTU is headed below $10, not sure if it happens next week or not but I bought 10 contracts of $12.50 puts for 45 cents, lol. Rare to see a straight out Enron tank like this.
Don't go too heavy, it may not hit $10 until the following week if it throws a continuation pattern next week. Short the pops though...
Swing trade:
Forming H&S within potential double bottom. Swing trade target 36. Enter after breakout at 26 and set stop loss below right shoulder.
Investment:
This is a good potential entry from an investment standpoint with a potential double bottom forming in the daily timeframe. The crash from Archegos fallout of was a technical crash and has not altered this...
