BILI, another volatile/speculative name, has attained new all time highs last week and was consolidating in a flag pattern. Within this flag pattern, an inside day formed similar to price action I wanted to see during a coiled spring setup. In a coiled spring setup, I want to get long in the smallest range day in the last 7 days. I went long BILI yesterday due...
BILI has its 9,20,50 day moving averages curling up under it right under the resistance level. This level has been tested 5 times and is now looking to breakout. If it can break resistance, looking for 8-15% gain before it reaches new levels of resistance.
BILI continued the bullish or bearish pattern for the next couple of days after the earnings report . Arrows marked in purple.
With Symmetrical triangle in the larger time frame and bump and reversal in the lower looks good for a bullish out look.
The continued bullish pattern can possible breakout of the symmetrical triangle and test the highs established at 16.83
BILI has been trading over its 100 day moving average since the end of December.
Looking at RSI (2 period, 90% and 10% as upper/lower bands) BILI closed today below the lower band around 7.83%
On 2/7, RSI tapped the lower band followed by a nice run up before pulling back again on 2/15.
Long 80 BILI @ $18.60
Granted this was pretty far from the lows for the...
NASDAQ:BILI Let it go up and then short on the way down below 17.80
Please like, comment and follow if you like my ideas. THANK YOU!!!
Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.
"Notable Experts have a mean recommendation of 1.6 on this stock. This is based on a 1-5 numeric scale where Rating Scale: 1.0 Strong Buy, 2.0 Buy, 3.0 Hold, 4.0 Sell, 5.0 Strong Sell."
(Nyse Nasdaq News)
This is just one of those up and coming new companies you don't wanna look back at and say I should have jumped on that when I had the chance. Do some research and I'll bet you'll agree!
BILI is testing the support again and I will not be buying at this level, I will rather wait a few days or up to two weeks for a better entry price to maximize the profit.
Short term: 2-3 weeks.
Entry: 13.5
SL: 12.8
TP1: 15.5
TP2: 17.5
