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Is CCIV Ready to explode? Welcome back traders, it has been a while. We will dive deep into CCIV across multiple timeframes, and hopefully make sense of this. Please read the disclosure below. So many YouTube influencers (ZipTrader has been one of my favorites lately) have already explained why this sold off so viscously, so that won't be covered here (you should definitely check it out if you do not understand this already.) Our cover chart today displays weekly candles, and it tells us plenty. From 2/16/21-present, we have watched the RSI drop from 99.5 to 52.18. In other words, the SPAC media-hype bubble finally popped. This is very common with SPAC plays. The February highs were unsustainable, and the profits were taken. I cannot iterate enough that this is so normal with SPAC plays, the gut-wrenching selloffs certainly are not for everyone (okay, my panic sell rant is over.) Our Fib Retracement from high to low gives us a .236 level of $22.95, and weekly candles above this level will likely indicate a reversal of this downtrend. The Daily chart gives us so much more guidance. We are seeing support from the 65D Simple Moving Average (SMA), and stagnation between the 65SMA and 50 SMA. Although it is too early to tell currently, this very well could be the accumulation period prior to the break out. Also, the T3-CCI indicator has transitioned from decreasing to increasing, which is a bullish sign. With an RSI of 39.97, this is arguably oversold (many analysts want an RSI under 30, but given the volatility, it will almost definitely not be a perfect TA fit.) Lastly with this chart, the 9 SMA is decreasing less since March 5, which could be indicative of a reversal as well. CCIV really starts to shape up on the 12h chart above. The Bollinger Band Squeeze is beginning, which can indicate a big price move either way. The Visible Range shows us three high volume nodes, which I will be monitoring heavily as potential price targets. The 9 SMA is at $23.77, which we need to watch closely as a support/resistance level over the next couple days. Additionally, we are seeing early convergence on the MACD, which is a bullish sign. Lastly, we have the 4h chart, and we saved the best for last! We see the early start of an inverse H+S pattern with a base at $32.57, displayed above. Although we are very very early in this pattern, this would indicate a MASSIVE MOVE that could easily 2x from current prices, according to this pattern (this is not trading advice.) On the 4h chart, we can see more precision, within our BB squeeze, with volume, and possible accumulation, compared to our higher timeframe charts. Conclusions As we wrap it up, I would like to thank everyone for reading, I welcome your feedback. It is important to understand this is a bullish prerogative, and the ideas presented above are very early in their formation, which leads to increased risk now, as opposed to waiting for confirmation/validation. If I am wrong and these levels break, we could see lows around $17-$18. I think many analysts will agree that prices below these levels would be odd unless we see further market crashes or significant production setbacks. I hope this is helpful, please read the disclosure below and good luck traders! Disclaimer This is neither trading advice, nor financial advice! These are merely my opinions that I have posted for educational purposes ONLY. Trading comes with great risk, which should be managed carefully. You should never trade anything more than you are willing to lose. I hope you all kill it, but I am not responsible for any loss or damages.
CLong
by CryptoRichCrypto
3
Clover Health Rallies Despite An Early Sell-off Into A $6.31 LowThe movement of $CLOV continues to mirror the condition of the overall market. Today, the tech-led sell-off took a pause, with S&P 500 rising by 1.95% and NASDAQ Composite rising by 1.55%. Similarly, Clover Health ended higher by 7.54%, closing above the previous day's close. Going into next week, I expect $CLOV performance to continue reflecting the overall market condition. Nevertheless, these are some notable resistance and support area that you should take note next week, with key areas highlighted in Bold: Psychological resistance: $8.00 , $8.50 , $9.00 Psychological support: $7.50, $7.00, $6.50 , $6.00 Fibonacci resistance: $9.92 Fibonacci support: $7.78, $6.67 , $5.07 Dynamic resistance: Bottom of the previous bearish channel that we were trading in before this market correction ( ~$8.50 ) Dynamic support: Top of the very tight bearish channel that we just broke out of (~$7.10) Once this correction is over, I expect $CLOV to emerge as one of the winners. Invest safe. This is not investment advice so please do your own due diligence! Support this idea with likes and share your thoughts below.
NASDAQ:CLOVLong
by AntrePoint
6
STPK: Load the truckSPAC’s have been taking an absolute beating as the market has been swinging around the past few weeks STPK has seen a 50% decline in its price from the peak just a few weeks ago, blowing past almost every conceivable support, including a strong area of consolidation at $34 a share Today we have approach what I believe is the bottom of this downward pressure. This company has some serious potential, and I will not go into all of that, there are plenty of articles across the Web which deeply describe the financials and fundamental case for this company Time to go long
SLong
by BonoboJoJo
6
Possible IPOE Entry 19.20$-18$IPOE looking for a possible retracement in March up to 24.70$ (28%+ Upside) with strong resistance at 21$. IPOE is currently sitting above the 50 day SMA line, with the MACD looking to roll over green, and the RSI is oversold. Price action might be heavily variable due to IPOE & Sofi merging this month, negative sentiment in the SPAC market right now, and the possible ripple effect from Clover Health's SEC investigation. This is not financial advice, I am not advocating the buying or selling of IPOE stock.
ILong
by kediguy
CLOV Retracement, Massively Oversold but Needs PRCLOV has not received much love these past few weeks after the short report from Hindenburg came out, but I believe that the short report does not hold much substance as well as the fact that CLOV had posted phenomenal earnings. CLOV stock had dropped about 12% after reporting great earnings but weak guidance for 2021. CLOV is also being investigated by the DOJ due to the short report which has created a lot of uncertainty for the stock. But all of these variables do not discredit the fact that CLOV has been massively beaten down along with having great earnings. I see CLOV most likely trading sideways until the DOJ investigation is over. Any type of good PR for CLOV will send the stock skyrocketing with immense upside, but if the DOJ investigation materializes into anything, CLOV's stock price might be sent down into the 5s. Key support for CLOV is 9$ and then 8.50$. My prediction for CLOV is it having a short-term spike up to 9.70$ then bottoming out in the low 9s. This is not financial advice, I am not advocating the buying or selling of CLOV stock.
NASDAQ:CLOVLong
by kediguy
XL Fleet is ready to pop bigXL Fleet, a successful company that has been delivering EV cars for 3 years now, after a successful SPAC inception to the public market had a severe correction is ready to pop big. The pressure on the stock price was huge due to many reasons including being shorted heavily, however, the community is now getting back to the EVs and the traders noticed how undervalued $XL is. With a little bit more momentum it is expected to get a nice short squeeze on this one.
XLong
by IboProtrader
1
Buy SPAC VACQ rocket labs mergerBuying the SPAC VACQ here rocket labs merger (depending on the open price today). Breakaway gap in play here. This is a buy and hold not a short term trade. I like the sector and the company fundamentals. finance.yahoo.com "Vector Acquisition Corporation (Nasdaq: VACQ) is a blank check company led by veteran technology investor Alex Slusky. ... The company leverages the full resources of Vector Capital to transform operations and accelerate growth of its target investments" Feel free to follow this trade and leave comments if you have any good info please
VLong
by breakoutfakeout
8
$THBR PT 75 and higherGreen eggs & SPAC - Elon Musk $THBR Indie semi-conductor works with $TSLA and $AAPL (VW running low on semi-conductors, car manufacture EVs) Apple Partnership... Thunder Bridge Acquisition II, Ltd. does not have significant operations. It intends to seek a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Thunder Bridge Acquisition II, Ltd. was incorporated in 2019 and is based in Great Falls, Virginia.
TLong
by BADQOMOCAWGOWLD
2
Rocket Lab to Become Publicly Traded Through Merger with $VACQRocket Lab, an End-to-End Space Company and Global Leader in Launch, to Become Publicly Traded Through Merger with Vector Acquisition Corporation. End-to-end space company with an established track record, uniquely positioned to extend its lead across a launch, space systems and space applications market forecast to grow to $1.4 trillion by 2030 One of only two U.S. commercial companies delivering regular access to orbit: 97 satellites deployed for governments and private companies across 16 missions. Transaction will provide capital to fund development of reusable Neutron launch vehicle with an 8-ton payload lift capacity tailored for mega constellations, deep space missions and human spaceflight Proceeds also expected to fund organic and inorganic growth in the space systems market and support expansion into space applications enabling Rocket Lab to deliver data and services from space Business combination values Rocket Lab at an implied pro forma enterprise value of $4.1 billion. Pro forma cash balance of the combined company of approximately $750 million at close Rocket Lab forecasts that it will generate positive adjusted EBITDA in 2023, positive cash flows in 2024 and more than $1 billion in revenue in 2026 Group of top-tier institutional investors have committed to participate in the transaction through a significantly oversubscribed PIPE of approximately $470 million, with 39 total investors including Vector Capital, BlackRock and Neuberger Berman. finance.yahoo.com
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by AlenCiken
4
Advanced Silicon Battery to Become a Public via $RSVA SPACAdvanced Silicon Battery Company Enovix to Become a Public Company Through Merger with Rodgers Silicon Valley Acquisition Corp. Enovix is the leader in the design and manufacture of next generation 3D Silicon™ Lithium-ion batteries with energy densities that are five years ahead of current battery technologies - Funded design wins with several blue chip customers in the high-value mobile computing segments (wearables, mobile communications, PCs and AR/VR) of the Li-ion battery cell market, which is expected to reach a $13 billion addressable market by 2025, of the total expected $75 billion Li-ion battery cell market - Customer endorsement and investment has led to the construction of Enovix's first battery production facility in Fremont, CA; larger second facility planned for 2023 and strategy for a third facility focused on Electric Vehicle ("EV") batteries - Transaction values Enovix at an estimated pro forma enterprise value of $1.128 billion upon completion - The transaction will result in approximately $385 million in net proceeds through the business combination, which includes $230 million of cash held in trust by Rodgers Silicon Valley Acquisition Corp., assuming no redemptions - Transaction includes an upsized and oversubscribed $175 million PIPE issued at $14 per share, anchored by leading institutional investors Upon closing of the transaction, which is expected to occur in the second quarter of 2021 finance.yahoo.com
R
by AlenCiken
Boeing-Backed Aerion Is in Talks for $ALTU SPAC ListingBoeing-Backed Aerion Is in Talks for Altitude SPAC Listing The companies are discussing a deal that would value the combined firm at up to $3 billion, said the people, who asked to not be identified because the matter isn’t public. A deal could be announced as soon as this month, the people said. The talks could still fall apart and end without an agreement, they said. Aviation giant Boeing Co. announced a partnership with Aerion in 2019, along with a significant investment in the company, according to a statement at the time. Aerion had planned to finalize the design of its first supersonic business jet model last year, according to its website. Manufacture of the AS2 will start in 2023 with plans for it to be in service in 2027. www.bloomberg.com
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by AlenCiken