US3 trade ideas
Be careful on Unityi really like this stock long term, but it's trading at a really pricey multiples. I believe this is a bounce and we see the count down to 13 commence in the next week or so. I'd be looking to add around the 200 day (which will probably be in the low 120's, also there is Fib support at this level). I'm not shorting, this is just the area i would be adding to (if it hits).
$U Unity Potential OutlookHere we see a 12345 Impulse Wave followed by what looks to be an ABC Corrective wave. If market conditions stabilize and $Unity finds support near the C wave down, this should be the reversal point.
It's important to note that this C wave has two potential targets;
Target 1- $126
Target 2- $112
The best-case scenario is price stabilizes here and retakes the broken trendline, and the worst-case scenario is the targets above.
Unity has probably bottomed and ripe to go longSupport line since july 2021 had a fake breakdown it seems. And a healthy bounce since then. Stochastics indicate we have plenty of room for a bullish move soon. Would not be surpised if we see 209$ before march 2022. If we breake down the long white support line and MA200 its time to sell it. From a fundamental perspective I think Unity has a really good position in the market and ability to capitalize on future megatrends.
$RBLX $AAPL $U $FB I OptionsSwing WatchlistRBLX 15M I RBLX is down near 20% from recent highs. $112 is acting as support. Watching for a breakout from the current downtrend on the 15 minute time frame.
AAPL 15M I AAPL showed strength the past few days as it managed to outperform its sector and QQQ. We are seeing a double bottom so far near the $160 level.
U 1H I Unity has been on a free fall and has shed 30% of its value in days. Expecting a retest of our trend on the 1 hour time frame. There is a slight div on the RSI.
FB 15M I FB has entered a bear market after falling more than 20% from ATH levels. Seems like $300 is a psychological support level that was defended last week.
Another stock to consider in the Metaverse trendIt is pretty high to get in now , considering it has reached the resistance/peak level at 175.48 level.
The current pin bar is a sign of weakness in buying and I expect some correction ahead. If it retrace to the 175.48 level with bullish signals, I may consider nibbling.
11/28/21 UUnity Software Inc. ( NYSE:U )
Sector: Technology Services (Packaged Software)
Current Price: $179.89
Breakout price trigger: $181.00
Buy Zone (Top/Bottom Range): $179.00-$171.50
Price Target: $232.00-$236.50
Estimated Duration to Target: 68-70d
Contract of Interest: $U 2/18/22 200c
Trade price as of publish date: $14.50/contract
Major pullback for UnityI'm expecting a major pullback for Unity. This thing is still way overbought and will drop a lot further over the coming months. The Metaverse is the latest fad that hypes certain technology stocks. The technology is great but we are way early on this one. This won't become a reality for a very long time, if at all. This is the 3-D Printing hype all over again. Even Zuck admits it may take several years to get there.
Unity could be looking at a pullback. With the metaverse incoming like puberty for the internet, im definitely looking to establish a position in unity. We might be seeing that time soon. Unity looks like it wants to play out some bearish divervence on the weekly chart. The rsi is pretty overbought along with forming divergrncr with tells me that a reversal could be coming soon.
There are two areas marked in red where support could be tested. So in conclusion, im short term bearish and long term ultrabullish.
U long after pullbackThe Unity Software price was continually increasing and now it is in overbought conditions (RSI>70) and above upper KC line. Therefore we expect a retracement to 50% Fib retracement level, which is also a previous resistance zone, that could act as a support for entering a long position.
Entry price: $175.08
Stop loss: $165.49
Target price: $207.33
no financial advice