"Thrill Rides is our DNA" - 7:1 Long on SIX What a rollercoaster of a stock since before the crash of of 2020 ... my charting of Six Flags is inspired by just now listening to a video about the company (not produced by me), and by my recollections of Magic Mountain from as early as the 1970s. Hopefully you will challenge my forecast and/or my measurements with your tough questions, since this venue is meant to arouse the reverse-engineers and to provoke the thinkers to do what we do best, right?
As always, I strive to render these ideas of mine so obviously that their explanation will require no words. Although my trading strategy is built on innate Pattern Recognition and a hard-won sympathy for the Market Maker’s Business Model, my tactics - including the beauty of Tradingview and how it makes me look good - are based on identifying the opportunities within VOLUME, VOLATILITY and TREND EXHAUSTION.
The details of the chart speak for themselves, however the fundamental narrative on which it is based is not all mine, only my initiative to look for a trade in it (see links below, for reference).
You will note that, as of this writing, the price has not fallen into my entry point, nor do I have conviction in the full harmonic potential. Even the heat map w/in the Range Analysis agrees with my medium term vision, which ends in an implied retracement.
Another 8:1 Long trade is also implied, should this forecast play out, however that will depend on fundamentals that will have evolved significantly by then ... which is to say that Six Flags may not survive a recession even with a decent turnaround strategy.
I am preparing a video on prospecting for opportunities during the current Sector Rotation, and Six Flags might become part of it. First, though, I have a few more ideas to upload as I update other key charts for the final Quarter of 2023, in preparation for live streaming.
Until then, be liquid !!!
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NOTES:
"The Death of Six Flags Is Getting Ugly"
www.youtube.com
After reporting their Q2 Six Flags 2023 earnings report, Six Flags stockholders have been shell shocked and the future of Six Flags looks dim. What will become of all the best roller coasters in the world that the Six Flags parks have assembled? Will 6 Flags survive or will the Six Flags 2023 season be one of their last?
Sixflags
$SIX Six Flags (SHORT) I am no professional but this is my opinion and the trade I am taking based on the chart. Trade at your own risk.
On March 16 we reached a high of around $17 which was quickly sold off, making us reach new lows on March 18th.
On March 26 we reached $17 which was rejected once again, this time we reached a higher low of $9.95 or so on April 3.
On April 7 we reached a high of around $16, we are yet to see a higher low or perhaps even a break of the ascending bottom line.
I see potential to perhaps seeing a triple top sometime soon (SHORT HERE).. if we don't then we will reach a higher low (or a break of the ascending bottom line) and perhaps revisit
I don't think we are done seeing bearish trends and going bullish just yet..
