#BBIG - SHORT!!!!
Updated
Here you go Javier, published just for you buddy!
Short on BBIG for a number of reasons, mainly technical more so than fundamental.
Technically speaking;
- Runaway gap formed during the Jan 2021 bullish move that was partially faded, but still left a gap between $1.60 & $1.95. 2 other minor gaps (Orange boxes) formed this year also, equating to THREE gaps in price total.
- Previous ATH was $11+, with bulls only managing to get it over briefly, and failed to create any relevant support to build on.
- Currently in a bearish wedge pattern, which if unable to reverse at this key $4 level, could result in lower levels being tested for support ($2-3).
MY ONLY BULLISH SENTIMENT is that at current price levels, we could see a new bullish wave form bringing price back up to meet the $5 or $6 levels again, which would coincide with my TA well.
So there it is, on an INTRADAY/TRADING mindset, im very bearish on BBIG, however, if my TA come through, i would be flipping my stance to a bullish outlook around the 1-2$ levels.
Short on BBIG for a number of reasons, mainly technical more so than fundamental.
Technically speaking;
- Runaway gap formed during the Jan 2021 bullish move that was partially faded, but still left a gap between $1.60 & $1.95. 2 other minor gaps (Orange boxes) formed this year also, equating to THREE gaps in price total.
- Previous ATH was $11+, with bulls only managing to get it over briefly, and failed to create any relevant support to build on.
- Currently in a bearish wedge pattern, which if unable to reverse at this key $4 level, could result in lower levels being tested for support ($2-3).
MY ONLY BULLISH SENTIMENT is that at current price levels, we could see a new bullish wave form bringing price back up to meet the $5 or $6 levels again, which would coincide with my TA well.
So there it is, on an INTRADAY/TRADING mindset, im very bearish on BBIG, however, if my TA come through, i would be flipping my stance to a bullish outlook around the 1-2$ levels.
Note
Told you so......look for a possible reversal here at $3 level...
...Im holding my short position, but might possibly open an intraday long to ride a possible pump back above 3/3.50$ level.
EYES PEELED.
Note
...Still on track to hit my original target....
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