Shorting the bounces and looking for a reaction at these support levels before thinking about any long positions.
Levels of interest:
50 DMA – 4435
Reverse Fib – 0.5 = 4365, GP = 4390.75/4397.50
Resistance 1 – 4322
Resistance 2 – 4334
Resistance 3 – Upper trendline (see chart)
Support 1 – 4258
Support 2 – 4238
Support 3 & GP – 4224 (Ideal Long Entry)
$ABNB is a hot name recently along with $SNOW, $DASH. I think we're seeing a good opp. to buy long or scalp some call options.
Entries are identified on the chart. We want to be patient with this name and see if we retest the GP or lower trendline, but need to be ready to take a start or use options to make up lost opportunity, if it starts pushing.
$PSTH lost the ascending channel on all timeframes and re-tested the GP of the entire move. That would've been a great scalp but i'm watching this name closely and how it reacts as it tries to re-enter the channel.
$BIGC is a SaaS e-commerce company which recently IPO'd in August '20. After an initial hype / run-up when partnering with $FB, BIGC has slowly faded throughout a bull market back to IPO prices. I'm looking for BIGC to reverse and break-out of this falling wedge . PT1: 89.4. This could be a good name for Feb monthly options.
FUBO rose nearly 330% from Nov. 17 - Dec. 23. It was highly anticipated that FUBO would have a major pullback, however it has given up the entire move from Dec. 15 - Dec 23 -- I think this move is an exaggeration.
Bearish catalysts in play: 1) Recent share unlock occurring on Dec. 30th, 2) the Kerrisdale Capital short report.
I think there is an opportunity to...