$CLOV Update, Important Current Factors Finally popping like it deserves, options playing out nicely with this one. Very important that we hold around this 10.50 level being the 38% retracement level from the ATH in January. I would like to point out that the short interest is 31% of the float, with insiders not being able to sell shares until $30 a share. There are plenty of really informative DD posts on reddit that I fact checked myself that give all the in depth fundamentals, so I will link those as well.
Link:
www.reddit.com
As of technical's, CLOV showed it could easily break though that 38% retracement level reaching a high today of NEARLY 11.20. The fibonacci's dont mean panic sell if it dips below 10.50, this is a daily chart, so with a close over or around 10.50 today, this would give me a lot of confidence in this reaching the next Fib zone which I highlighted in purple near the 11.86-12.00 range. 10.20 is support for the day today, 6/7.
According the research that I conducted myself, as well as others research, nearly 90% of ALL shorts are in LOSING positions around the $11 price range, which can potentially mean gamma squeeze.
The company itself has strong fundamentals which are highlighted in the reddit post I linked, once market share is captured and has even a fraction of the what other insurance companies have, this trades near $100 easily IMO. That is WITHOUT the squeeze potential.
Fib Zones with my targets, as well as support and resistance accordingly.
Z1: 6.35 - 8.95
Z2: 8.95 - 10.57
Z3: 10.57 - 11.89
Z4: 11.89 - 13.20
Z5: 13.20 - 15.07
Z6: 15.07 - 17.45
Positions purchased June 2nd:
6/18 $10 Calls
7/16 $15 Calls
8/20 $30 Calls (Leaps)
