CZOO moves up on the pre-earnings interest LONGCZOO shown on a reliable daily chart had an earnings report beating the estimates back in
November whereprice action trended up then down in January followed by sideway action
then finally a break out through VWAP band lines and the entirety of the high volume area of
the profile. Ahead above is a volume void where price moved quickly coming down..
On the retrace, price can move through the void just as easily.
The indicators show the volume pump and corresponding Price Volume Trend going exponential
My first target is 23 about 90% upside - it is the line between the lows of the bottom wicks of
Doji candles on 11/17 and 12/18/23. The stop loss is 12.6 just below the upper
boundary of the high volume area. Once the price gets over 17, the stop loss will be
converted to a trailing $2.00 stop loss and the risk free trade will continue higher.
At the first target 50% will be realized and at the second another 25% while the remaining will
be left to see if any momentum remains. The final target is 43 being the high pivots of early
December 23 and the consolidation high volume area of October 23. the rest will look for the
momentum fade while the stop loss is changed to trailing $1.00.
This is potentially a 3-4X profit trade using alerts / notifications/ limits and stops.
There will be very little screen time or effort in the management.
CZOO
$CZOO to have a great rest of the summer?I believe based on trendlines & multiple inverse fibonacci sequences at play, along with stoch rsi & mac d indicators, that CZOO has bottomed out. I would expect to see a great turnaround in the next several weeks, barring the possibility that it doesn't trade sideways for longer.
*Opinions are my own. Not trading advice.
Cazoo in crisis. CZOOWe are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
