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WISH Continuation of Momentum LONG
Long
WISH Continuation of Momentum LONG
By AwesomeAvani
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Apr 23, 2023
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Apr 23, 2023
WISH had a great day to finish out this past trading week.
On the 15-minute day, two highs are drawn as horizontal resistance using the high candles
with the wicks as "tweezer tops" while the support is drawn as a green line at a pair of
"tweezer bottoms"
I see this as a bullish continuation play for next week. A stop loss is set below the support
line at $8.30 with a buy order placed at $.05 above the current market. Targets are $.05
below each of the resistance lines with an approximate reward to risk of 15X.
This is a volatile small cap with the typical high-risk and high-reward scenario.
I will take call options at the strike $ 7.5 for expiration on 5/5 expecting a return on
risk of at least 75% leveraging the expected return on a similar stock trade.
Candlestick Analysis
continuation
optionstrading
pullbacktrade
smallcapstocks
Trend Lines
WISH
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