Long
Smile Direct Club
Smile Direct Club is a heavily shorted stock and in the top 15 highest shorted stocks in the market. (highshortinterest.com)
It's safe to scale in near the blue trend line with a high risk/reward ratio. Fib 0.618 will act as next resistance and with momentum 0.786 max. since the avg squeeze is 55-60%, so take profits accordingly, instead of hoping for more. Going long SDC is also a good choice IMO, since it's expanding worldwide and the products have a a customer satisfaction ratio as well. If we close above the blue uptrend line on the weekly with a full candle, it's entering a new phase, which is more bullish and would probably scare away the shorts. Until then SDC needs to proof the market they are a key player in changing the way orthodontia works by offering full treatment of oral care with value for money.
It's safe to scale in near the blue trend line with a high risk/reward ratio. Fib 0.618 will act as next resistance and with momentum 0.786 max. since the avg squeeze is 55-60%, so take profits accordingly, instead of hoping for more. Going long SDC is also a good choice IMO, since it's expanding worldwide and the products have a a customer satisfaction ratio as well. If we close above the blue uptrend line on the weekly with a full candle, it's entering a new phase, which is more bullish and would probably scare away the shorts. Until then SDC needs to proof the market they are a key player in changing the way orthodontia works by offering full treatment of oral care with value for money.
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