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GME may continue the climb, but is the risk worth the candle?The advisor Market Miracle generated an input signal for the title GAMESTOP $GME at the price of 237 USD with a target of 315 USD. The company is known by all for its capillarity on the territory but also for the recent events that have seen the value of the action literally skyrocket and not because it is a particularly healthy company. In fact, its balance sheets are certainly not the most rosy but the value of the stock has risen and climbed again on strategic plans of the company that provides an online reconversion of their business and thanks to groups of traders who have recognized in GAMESTOP a possibility of Speculation actually managing to bring the title to unimaginable levels. But the risk is worth the candle ? This is what every trader should assess at the time you operate on the market, the risk of getting stuck in a stock for years without seeing any profit but only losses is not in my humble opinion properly evaluated. Then surely the title will go up again and maybe even the forecast given by Marketmiracle will prove effective giving rise to profits but I personally prefer not to betray situations like these. According to the graph the situation is compatible with the one reported Marketmiracle for which I expect in the short a movement of the prices like those designed by me on the chart, but I will definitely not take positions. This idea is based on the signal generated by the Marketmiracle advisor whose link you can find by scrolling at the bottom of this page.
NYSE:GMELong
by MarketMiracleAdvisor
1
$SPY Tread Lightly, How to Hedge AccordinglyA weekly Long term SPY chart can tell a lot, would not at all consider myself a "bear" but I do think that people should be aware of not only this chart but a lot of the current factors and economic situations we are in right now, from chip shortages, lumber prices, to inflation, the reasons to hedge accordingly against a correction continue to show everyday. Patterns like to present themselves in strange ways. We can look at SPY ATH from 2018, to its low in December 2018 and show retracement levels respectively. From the lows, we saw a 161% retracement from ATL's and then a correction. Considering where we are now, from ATH's in early 2020, to the lows of March 2020, Spy has retraced yet again, 161%. Obviously the correction was not purely technical based, because of the pandemic, but I do see continuing reasons on why as a whole the market is "overvalued". A healthy correction IMO is imminent, timing it is the hard part, I think we can see a continued SPY run towards 430-435 range, but at that point I would monitor positions closely and have cash ready. Hedges for me makeup a small percentage of my portfolio, but i will continue to allocate profits from short term swing trades I make towards these hedges. Hedges can be as simple as inverse SPY ETF's, to commodities, to long term options positions. In my opinion, and for my investing strategy, the hedges I am using and will continue to add to these positions as we move higher are the following: $GLD Call Options 6M-1Y Expirations $UVXY $40 Call Options with various ranges of expiration dates, as early as July and late as December $IEF 7-10 Year Treasury Bond Yield ETF Call Options
AMEX:SPY
by chartxzy
2
$PLUG Important Price Level PLUG looking to make its next move that will be determined by the price action in the coming week, we have a very decent bullish setup with a nice trading range that gives solid risk rewards profile. As you can see we have multiple areas of support and resistance and are currently sitting on the $31 support level, a very important price to hold. More bullish sentiment is a bounce off its 200DMA that can carry this higher short and long term. In the next few trading days we can expect one of 2 things to happen. Holding 31$ and a push towards $35 again would indicate a long term downward channel breakout attempt. ADX supports the movement and breakout as well. Second thing that could happen is market isnt ready to take this higher yet, and we see another retest of $25 range to form a double or triple bottom for a breakout in the future. Watch closely.
NASDAQ:PLUGLong
by chartxzy
$SNAP Looking to Retest ATH As I updated a short while ago, snapchat did in fact break out of its trading range pushing near the $64 price level, and since then, had a healthy and expected pullback that found support on the top of the channel which is a bullish signal IMO. The price action in the next 2-3 trading days will determine if the market wants to take this higher back towards the $70 range which I believe will show strong momentum at the open tomorrow. I previously had a position in shares, but will instead be doing a multi-legged call position to maximize return. According to the price action in the morning tomorrow, positions I will most likely take are below. GLTA 6/25 $65 Calls 7/16 $65 Calls 7/16 $70 Calls Not financial advice.
NYSE:SNAPLong
by chartxzy
RKT to move to $27 after Cup and handleRKT Current Price $20.67 Price Target $27 This is a value play with amazing long term growth potential given the technology RKT has that has attracted a young customer base.Trading at less than 10x FWD earnings RKT is very attractive here. The chart set up is also very important to note RKT is printing a cup and handle pattern which is a bullish signal. Rates have continued to fall on strong jobs numbers as deflation is now a real concern. A drop in rates helps RKT be able to provide more mortgages to people as mortgages look more attractive to potetinal buyers when rates are low. Last year RKT was able to provide 126% more mortgages, I expect this trend to continue for RKT.
NYSE:RKTLong
by Value-Invest
1
$AMC Bull Wave Incoming?AMC printing a descending triangle, which would be bearish if this pattern was within a downward trend, but this is a bullish formation since we have been making ATH's. My previous idea thought we were forming a bull flag with higher lows, but it was broken which I believe was due to the GME earnings sell off that affected all "meme stocks" as a whole. MACD Looking to make a bullish move, as well as ADX & DI looking for its next bullish expansion. watch for a breakout.
NYSE:AMCLong
by chartxzy
2
AMC, GME & other stocks: Pumps and dumps WallStreetBets (WSB).WallStreetBets (WSB) pumps usually end up losing 80% of their growth within two weeks. You can consider buying put options for the dump phase. Unfortunately, the popularity of the WSB makes options often too expensive: Long Put: Buy 1x 25th Jun $35,00 Put @ $4,65 Entry cost: $465,00 (debit) Maximum risk1: $465,00 Est. return1 at target price: $535,00 (115.1%) Probability of profit: 18.9% The current pump AMC is interesting in that on call options a strike 40 was previously designated as a level above which the price would be raised: AMC Options OI. At this time, there are pumps at many actions, in which the members of the WSB community got bogged down. In this idea I will post examples of pumps and dumps of the WSB community. If the topic is of interest, I will supplement it. In the long term, the topic of pumps can be profitable for the following reasons:
NYSE:AMCLong
by Gelium
2
HOW TO: Trading the WallStreetBets Stonks with Cascading StopsHadn't seen any videos of anyone doing something as silly as this (which of course fits into the WSB philosophy) so thought I'd make a video of it and share it in case it amused or inspired anyone else. Just something I have been having a bit of fun with over the last couple of weeks. You could do this with any broker, but I REALLY like the simplicity of doing this all within TradingView and using TradeStation as the integrated brokerage free broker. Note: You would not do this if you were paying brokerage. What I do is: 1. Create a list of WSB type stocks. 2. Watch in the pre-market to see which ones are getting the attention. 3. Try and buy as early in the move as your broker allows. 4. Add a stop loss a bit below your buy price - eg 5% or so. Nice and tight. 5. As the stock price moves up, start to break down your stop loss into lots of mini stops. Idea is that as the stock moves up, you are moving your stops up, BUT rather than one big stop that gets your whole holding exited, you can place lots of smaller stops (even place some ahead of the price) so that as volatility happens you auto exit some of your position hopefully taking profit along the way. Rinse and repeat. Definitely NOT trading advice. As before, it really is a silly idea, but hey its also a bit of fun for now and seems to work reasonably well for these kinds of stocks that spike big in one day and then start to equally quickly pull back. Might be better to simply buy and hold them, but you never know when they will inevitably come crashing down, and more so which one is going to be the focus of the day. Like and subscribe if you like it. One of those videos you can skip through once you see the initial concept...
NASDAQ:CLOVEducation
by zAngus
104