TGL Fintech with a push discounted 96% from ATH LONG
Updated
I am watching TGL for a short squeeze. A recent pivot high in the past year was about 37 and
the ATH of 168 was the winter and spring of late 2022 and early 2023. This is an app that
matches merchants and consumers with incentives to both to deal and make transactions.
I believe that it has been heavily shorted while in a persistent trend down. Relative strength
has been rising and the TTM triggering. A spike in relative volume was more than 50X. I have
taken a position and have an unrealized profit of 22% however, I expect more and will add to
the position given a dip from the high of 8 down to 6. For the time being the targets are 10.5
and 12, where I will take off 25% of the position at each level. IF TGL can squeeze and maintain
momentum over the weekend, next week could be a bigger move.
the ATH of 168 was the winter and spring of late 2022 and early 2023. This is an app that
matches merchants and consumers with incentives to both to deal and make transactions.
I believe that it has been heavily shorted while in a persistent trend down. Relative strength
has been rising and the TTM triggering. A spike in relative volume was more than 50X. I have
taken a position and have an unrealized profit of 22% however, I expect more and will add to
the position given a dip from the high of 8 down to 6. For the time being the targets are 10.5
and 12, where I will take off 25% of the position at each level. IF TGL can squeeze and maintain
momentum over the weekend, next week could be a bigger move.
Trade closed: stop reached
Price dropped and momentum flipped will move to the watch list
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