stonkasaurusrex

stonkasaurusrex Pro

I believe Wish is in its final stages of bottoming. I'm seeing an inverse head and shoulders on the daily with bullish divergence that's been taking place for several months. Wish was recently pumped off of a positive report claiming it was significantly undervalued during which we saw daily volume at a level we hadn't seen since 2021. All of this indicates to...

stonkasaurusrex Pro Updated 

UNG has collapsed to a point where producers will take drastic measures to curb production. There is a bullish narrative here for this being bottom that I won't get much into, but I only throw this out there because I like to trade when the fundamentals and technicals both line up to suggest the same price movement - in this case a monster rebound. Bullish...

stonkasaurusrex Pro

Tesla has been beaten and battered for the past 6 months. It's fallen from $410 to $137.80 without a meaningful rebound. It's oversold on every time frame and due for a large bounce. Bullish divergence everywhere. Buy and hold for the next few weeks, sell around $163-170, leave runners past that if you want to try for $200.

stonkasaurusrex Pro

Incredibly, one of the largest head and shoulders patterns I've ever seen played out perfectly and entirely, and we are now trading at levels not seen since late 2019. There is massive support down here and I expect this stock to have fully bottomed around this area before beginning a new uptrend within the next month or two. I'm going to hold this one for a few...

stonkasaurusrex Pro

META is extremely oversold at this point and in my opinion it is well overdone. We're now trading at 2015 levels. Longer term once spending on the Metaverse is slashed by the board, this will pop 15%+. We hit major long term support today and I expect a short term bounce. Ultimate target is the lowest black line where I will be going very heavy into META, I'm...

stonkasaurusrex Pro

Google is significantly oversold here, it's due for a large retracement short term. Long term there may be further downside but my targets to add are highlighted with the blue horizontal lines. P/E ratio is now sub 17 which is ridiculous even given the macro background.

stonkasaurusrex Pro

I posted about Wish a few weeks back so please feel free to check that idea out, but long story short it looks like my double bottom theory has been invalidated. This has been an extremely difficult stock to hold (my cost avg. is just under $3) but I still do not believe that the price accurately reflects the value of this stock and that it has potential to reach...

stonkasaurusrex Pro

I've been waiting for a very long time for Wish to double bottom. I sincerely believe everyone besides Piotr who wanted out is out by this point. All the negative headlines are in, all the worst that could happen to the company happened. We continue to see funds loading up on shares at these rock bottom prices. Wish is certainly experiencing headwinds and this...

stonkasaurusrex Pro

Wish earnings is coming up on May 5 - it looks as though the company moved their earnings reporting up several days which is typically a good sign. I have been following a few others who track MAUs and app interaction as well as downloads, and all signs point to positive results from Wish Clips. I anticipate this earnings release will provide us with the first...

stonkasaurusrex Pro

Looks like we are backtesting another breakout attempt, bullish divergence is present on several indicators, look for a potential short term rally to 4425ish if not higher, be prepared to cut losses if falls below 4375.

stonkasaurusrex Pro

You can't argue with this chart, do you see my inverse H&S smiley faces? Do you think they'd lie to you? Did I just have too much coffee and probably bought too much DKNG to be considered an entry position? Do your own DD, but DKNG is due to pop. Have a good weekend. If this drops below $16 I'm getting out, otherwise I won't be selling until $22-24

stonkasaurusrex Pro

Follow up on my previous post, I believe that today could have very well been an exhaustion gap for Apple's recent and violent rally. I will be holding my puts for the next few days and am looking for a large breakdown. I realize this has a low probability of paying off but remain relatively convicted in my analysis. Again, as previously posted I am just quite...

stonkasaurusrex Pro

Looking back, it's been over 20 years since Apple had a rally like this - it's up 18.8% in 11 days, with no pullback or a single red daily candle. This has to be the dumbest, most "panic buying," peakiest rally ever, but it doesn't matter because I bought puts too early. I don't know how this type of a rally is possible, there aren't enough shorts on the planet...

stonkasaurusrex Pro

After 9 straight monster green days Apple is up approximately 17%. This feels like panic buying and/or chasing the market's breakout rally. Today Apple showed signs of slowing down, and volume has been tapering off as less and less buyers are willing to continue to push this price up. I bought several tranches of Apple puts dated from mid-April to late May. I...

stonkasaurusrex Pro

I'm publishing this mostly as a placeholder to see how this ultimately plays out. We're approaching massive resistance based off of last year's penultimate peak, and the chart looks to be forming an absolute monster head and shoulders pattern. It is painfully obvious what this looks like. I have some doubts that something this obvious could play out, but given...

stonkasaurusrex Pro

I am long Wish and have been for a while. Feel free to read my prior posts for my thesis. But for now, the most important price action is what will happen at the 200 day moving average. My guess is that Wish will fail to break through at it's first attempt, as this is a big deal. Ideally we see it drop, consolidate, and then charge again a good clip over the...

stonkasaurusrex Pro Updated 

As of today I am long DKNG. It looks to be forming an inverse head and shoulders, and is currently completing the second shoulder. If it falls below $17.70 this will likely invalidate the trade and I will cut my losses. Short term PT is $24 - I will make a call then about whether I think it will break through what seems to be extremely strong resistance at...

stonkasaurusrex Pro

Weekly RSI is hovering around 16, major bullish divergence on several indicators, ZM just hit major support from several years back. At minimum we see a large bounce here likely $120-130 at which point I will likely exit, wait for the next drop, and go long for a long term hold if I like the setup.