Playboy stock has been sinking for a while. That said the stock has been coiling in the $2 area for a month. I think if it can break through about $2.20 the stock can pop quick to over 3 dollas. If it falls under $1.50 I'll bug out of the trade. It is a small position
NASDAQ:PLBY has finished it's measured move to the $1.40 Key profit-taking level today, 01/09/2024 - Price action temporarily traded to $1.40 before finishing the day candle at $1.38. If speculators placed a limit order at $1.40 to sell, they most-likely would have been filled while the price action temporarily traded the $1.40 level.
*Nothing in this post...
Over 6 months, since certain people have talked about PLBY being some kind of amazing play or whatever. I have a rule that if someone's telling people a stock is amazing, that stock won't do well in the short term as MMs and others need the stock to go down and stay down long enough for people's options to expire worthless and for short term stock holding maniacs...
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 1.8/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance....
Summary: picking through the garbage to see if any value left for future. bankruptcy or big move in 5-10 years. Rolling short puts into stock for potential change based on new catalyst of joint venture.
key concepts:
Sizing- Having enough but not too much of an investment idea in a portfolio.
Risk/reward- Assigning probabilities to various up and down scenarios....
Good potential for a break out to 4.20
Resistance at 3.62 And 3.69
Stop loss at 3.46
Earnings coming soon after Halloween weekend.
*Trade at your own risk*
Is playboy a bargain or is it headed to liquidity troubles? I dont know but Im curious.
Apparently they own Honey Birdette, a high end lingerie chain with over 50 stores. They do a lot of branding royalty deals. They also have a new app called Centerfold that seems to compete with only fans but with playboys twist. Last earnings calls, Playboy shared that in...
PLBY has gained great momentum and has the potential to violate its major resistance labeled as R1.
The bullish Butterfly Pattern over the load zone is also indicating a swing up to the following targets.
previously...
Lower lows and higher lows, staying between the descending channel levels. Can play long or wait for breakout of the descending channel at top for entry.
We may be near the end of an accumulation phase: the RSI indicates a bullish divergence, while the stock has been consolidating for some weeks and is about to break out.
I believe that this could be, once again, a good trading opportunity. If the breakout happens with volume, I can see the stock in the high 20s range.
Personally I wouldn't risk more than 1% of my...
If we break out of this bullish pattern we are seeing a price target of around $71 a share.
Also have a golden cross coming up.
Stop Loss is at 32.98
*Trade at your own risk*
Looks like the new Hef got breast! So thats some good news for the ladies right? And Im sure the fellas cant wait for the "centerfold" lol.... Right now we have a triangle forming and we are looking to get a little tighter before the breakout. When its ready Im thinking 47 to 50 should be our target.
NASDAQ:PLBY
Possible Scenario: LONG
Evidence: Price Action,
TP1: 36$ Oct 2021 , TP2: 45$. Jan 2022
call options, strike 30$, 10/15/2021.
*This is my idea and could be wrong 100%.
Great book by Victor Sperandeo "Trader Vic - Methods of a wall street master" , specifically the section on drawing correct trendlines.
I see a lot of traders (including some times myself) drawing wrong trendlines especially if they are bias to long or short.
Per Trader Vic - For a downtrend within the period of consideration, draw a line from the highest...
