FFIE Short Squeeze Levels and Zones Charted
Updated
Been watching and trading this thing since $0.09. Couldn't believe the structure and strength of the buying. 1 billion volume past 3 days. 97% shares Sold Short. now there's articles and vids popping up and our beloved apes from AMC GME looking for more nose candy.
Something I've noticed is that the past 3 days have rallied @ or near 12pm(Noon) EST as noted on the Chart. is it when the shorts go to lunch? < jokes but maybe.
But I think this thing is really in perfect storm territory
Im going to be looking for this noon bounce thats happend past 3 days.
looks like there's going to be some pressure from 3.11-5.48 with 13.96 in range of this run.
We want to see the same signals. Nice Vwap support, Selling met with stubborn buying at support levels, Local Top aggressive selling met with aggressive buying during with those nice long wicks to Vwap support. The 3 min chart has been great visually to see this stock work through price levels
Something I've noticed is that the past 3 days have rallied @ or near 12pm(Noon) EST as noted on the Chart. is it when the shorts go to lunch? < jokes but maybe.
But I think this thing is really in perfect storm territory
Im going to be looking for this noon bounce thats happend past 3 days.
looks like there's going to be some pressure from 3.11-5.48 with 13.96 in range of this run.
We want to see the same signals. Nice Vwap support, Selling met with stubborn buying at support levels, Local Top aggressive selling met with aggressive buying during with those nice long wicks to Vwap support. The 3 min chart has been great visually to see this stock work through price levels
Trade active
Lots of range in the am. buyers stayed stubborn. sellers gave up the $3 level. 4.11+ in sightTrade closed: target reached
Closed half position @ $3.60 and all out @3.11.The selling pressure became very apparent at the 3.70-80 area. Watching the live candle ticks you could see the buying start to completely dry up.
I don't tend to trade the short, but the structure of the short side of this trade was beautiful.
Instead of a walking stick wick ( a wick that goes to a level of support met with immediate buying, remaining above Vwap, that corrects to at or above the open of the candle met with additional strength in the next candle.)
What we saw was a beautiful short side signal of the break of the $3.11 levels and beyond. where the aggressive selling triggers stops, but also hit buy orders that get filled clearing the order book on the way down.
This evacuates active buyers as well as they wait for a confirmed bottom meaning its free fall time.
I Don't believe in FFIE as a company. Just was a good opportunity with high engagement.
Next week may show some interest and I took some profit and bought at $1.
No specific target. If it opens at $1.20 ish I'll take profit and see how the week develops.
Will the market still have appetite? we shall see
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