OPES on the run in the red on the dailyLooking at the daily chart on OPES there is a nice bullish engulfing candle confirmation with smaller wick (larger the wick larger the sell off), not overbought, not oversold, bullish side of RSI trading above 50 MA... this is prime for takeoff and it won't stop... unless it contracts COVID19...
and it just passed past resistance from 8/14 and 9/2... new support 13.46 and if it rockets past 15.03... 20.01 and beyond! This is also trending as of late, I feel traders/investors feel "safe" or "safer" parking their money in SPACs having gone through round one of COVIDnomics.
OPES
Long OPES (BURGERFI) AKA Chain Restaurant Industry $SHAK $MCDEntry $12 area
1st Target $18
2nd target $23
3rd target $32
Why?
Covid 19 Took this stock down hardcore but as the restaurant industry starts to recover, this start is going to fly! it is literally a steal right now!!
if market continues to be bullish, it will be like buying this stock at thrift store.
This is like getting into DKNG b4 they were a thing, or TSLA when it was CHUM CHANGE!!!!
In June Delivery Sales increased 65% Y/Y, and for first six months 3rd party delivery YTD + in-house app orders were up 428,000, sales reached $10.9M, order & sales volumes were up 32% and 60%.
In addition to partnerships with DoorDash, GrubHub, Postmates and UberEats, BurgerFi has developed its own app for third-party delivery.
OPES anticipates merger with BurgerFi to close in Q3.
What is OPES/ Burger Fi?
BurgerFi is an American fast casual restaurant chain focused on hormone-free and antibiotic-free angus hamburgers,
french fries, hot dogs, and custard. The first location was opened in February 2011 in Lauderdale-by-the-Sea, Florida.
www.burgerfi.com
OPES PREDICTION I predict OPES hitting $30 by July, once merged, depending on IPO, could see a dump or flat line. Despite SPX500 dump this upcoming month, it will only keep going up!
