Becky
SBUX headed for 104-106 this week :) simple and sweet, Starbucks is ready to run. Looking like it is going to hit 104-106 this week before culling some profits. Trade well and hope you hold some.
The next Shopify?! SHOP & ETSYI use Etsy. I sell on Etsy. They are great, with only 10% transaction fee (hola Amazon!!).
Users are loyal, trendy, and a lot of them are girls in their 10-30s. Can smell the next Shopify here.
ETSY for the $BECKYI really want to build up my long term $BECKY portfolio and a key component is NASDAQ:ETSY . Girls love Etsy.
EL for the BeckyI got a signal yesterday on NYSE:EL which is a stock I've been looking to buy on a pullback for the $becky index. For those that don't know the $becky is a meme portfolio of "things white women buy." It's basically consumer products AKA consumer discretionary. I'm looking to play EL to about 259 and then a retest of the high and beyond
SNAPCHAT ($SNAP) 👻 | Why Snap is More Tempting than a Cinnabon🐋 ALERT! The SNAP bulls have been giving bears no leeway recently. Not only does the chart look great as SNAP has capitalized on the lockdown, but Snapchat has also been busy improving its ad space and moving to compete with other big tech like Apple and Google (for example with Snapchat's foray into AR).
Let's take a look at some levels to see if SNAP can keep popping off.
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Support:
The S1 S/R flip and S2 orderblock are both equally notable to SNAP bulls. A bounce at or between any of these levels would be a show of strength from the bulls.
While the bulls have the S3 SR flip at the major price pivot point on their side, a test of S3 breaks the bullish market structure and thus makes this level somewhat unattractive at this point (if we get there, we'll have to see how price reacts).
Resistance:
The first point of resistance for the bulls is the R1 orderblock at the failed swing high and S/R flip. It would make sense for us to be rejected here while price consolidates. This would help SNAP to avoid becoming overextended.
The R2 orderblock at the failed swing high range comes into play if R1 is breached. While there are other notable levels higher to discuss if we get there, first things first, a move off of R2 to consolidate onto of R1 first is a perfect move for the bulls to signal continuation higher.
Here is a chart showing where these levels are coming from:
Summary:
SNAP's chart looks great, there is a clear path for the bulls if they want to keep this up. Since that is the case, we expect something similar to what is noted on our chart to play out. Meanwhile, we would be skeptical of any price action that didn't at least interact with our levels. After-all, running too hard and too fast could leave SNAP overextended, while not interacting with support would show real weakness.
Resources:
www.theguardian.com + www.searchenginejournal.com
LULULEMON ($LULU) 👖 | Is Becky's portfolio about to take a dip?📊🧐 Analysts have low expectations for Lululemon earnings this quarter, but the chart and other factors (like its expansion into international markets) point to high hopes moving forward.
In the chart, we take a look at some levels for LULU and compare its strength to the S&P (White) to show how recent weakness and divergence from the broader market's uptrend could result in us eventually retesting support before making another attempt at highs.
Support.
The S1 orderblock is the target for LULU bulls if we see a correction for LULU instead of an immediate uptrend. Despite potential outlooks for future quarters, the COVID quarter earnings are unlikely to instill greed, so a correction may just be in order from that perspective alone. Below that we have the S2 and S3 bullish S/R flips, both of which could act support if S1 doesn't hold.
Resistance.
R1 is the main resistance on the chart. The R1 range highs aside, the current range may also end up acting as resistance if we do move down to S1 or lower.
Summary.
The bull case for LULU still makes sense. However, it'll take a really great outlook and perhaps an earnings beat to have the market disregard what is likely to be an underwhelming earnings report and push LULU to new highs. Given the short term weakness on the chart and expected weakness in earnings, the bulls will probably want to focus effort on defending support rather than trying to FOMO into earnings.
Resources: www.earningswhispers.com + www.barrons.com + www.modernretail.co
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Becky Is Back -- SBUX ST DEC 6 gambleMeet some half strangers at a round table for coffee over the holidays. The people from high school who you are trying to avoid but cant seem to miss when you return home.. Where to meet? SBUX.
They announced some Irish cream drink today; makes your mouth water saying it... too bad I dont buy the overpriced drinks myself!
I took a weekly neutral/bullish position on SBUX via a put credit spread at the 84.5 and 84 strikes for a credit of .2 for the DEC 6 Strike
PoP was .6636 Kelly says max weighting of 15%
I used a weighting of 5%
GL HF
xoxo
snoop
