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OPRA drops after earnings beat LONG
Opera Limited
Long
OPRA drops after earnings beat LONG
By AwesomeAvani
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Aug 24, 2023
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Cheer
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Aug 24, 2023
OPRA on the 30-minute chart dropped after an earnings beat as apparently a lot of traders
expected better. The volume profile shows the vast majority of the trading occurred in
the 12.75 to 13.05 range. This heavy accumulation should result in price movement in due
time per Wycoff. I believe that a long trade is setup for a Fibonacci retracement of the
drop into the middle levels and so 14.75 as shown by the indicator on the chart. The mass index
indicator reached the reversal zone and then triggered with a drop below it confirming
a probable reversal. The MACD shows bullish divergence.
I will place a market order with a stop loss at 12.0 just below the POC line which is below
present market price. This is a safe 10-13% trade which may take into the beginning of next
week. I will take call option contracts as well.
Fibonacci
Fibonacci Retracement
OPRA
smallcapstocks
volumeprofileanalysis
Volume
AwesomeAvani
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