WISH Potential Downtrend BreakoutMany traders have been waiting for the next move on WISH.. Today could be the day.
We need to break that downtrend resistance to achieve higher highs on daily chart; once entry is hit, volume should flood in
Calls > 11.38
keep an eye on this today!
WISH
Did exactly what we expected! 👀 Now what? 🤓Ok, WISH did exactly as we said yesterday. It is exhausted, and we have many interesting signs around. The breakpoint is the 11.22, we must watch it closely tomorrow!
The RSI has a divergence + advanced breakout, just when the BBs are getting tight again!
We hit the support as we expected we would, at 10.37, and ow we have the start of a reversal. This is fantastic, and I already have a clear strategy for it! The only problem is the RSI that could be more oversold, but that’s ok.
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Melissa.
Lets Make a Wish!!Increased Volume and Price reversal. We should see some upward movement after this end of June market sale off.
wish upon a shooting starlittle setup here, only looking to play this swing to the -0.236
area of invalidation = 9.70
target = $16.85
WISH, Alternative bearish scenario !Is there any alternative bearish scenario for WISH ? Of course there is.
I have published an idea about WISH ( see related link if you are interested) which was the best case scenario and is based on a completed anti cycle Elliott waves (See the left chart) . So far chart did not go well and there is no bullish sign yet.Therefore we have never opened our position. Is it possible to have any other alternative scenario? There are always alternative scenarios.
On the right side of the chart we have a bearish alternative scenario. In this scenario last move up can be considered as a 3 wave ABC form of counter trend correction which can be labeled as wave 2 of a larger cycle Elliott waves means that another down going wave has started and we will see very low prices.
Which scenario is more probable? Both are valid now. We have to watch carefully and trade smartly and always keep in our mind that there maybe always alternative scenarios.
As I always emphasize :
We always trade in the direction of momentum which means that we never go long when momentum is bearish and never go short when momentum is bullish.
We always trade smartly. Don't we?
When to trade WISH? 🤑Yes, WISH is getting cheaper for us, which is good! I don’t see the 12.10 as a breakpoint anymore, because we traded above it yesterday, and we lost the support at 11.57 today.
This tells us that WISH is pretty weak, despite the divergences seen on the RSI, and the fact it looks oversold. That’s not good, but when will we buy WISH again?
The answer: If it does a bullish candlestick in the 4h chart. Preferably if it does one after it hit the support levels at 10.37 or 9.68. The RSI could be a little bit more oversold in the 4h chart too. All of this would be great for WISH.
We are also surfing the lower band of the BB, another sign that WISH might be oversold soon. Let’s wait patiently for more signs. I’m sure it’ll give a buy soon, and I’ll be here to update you guys!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
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Melissa.
$Wish trade updatelast friday we poked the golden zone perfectly for this sub-wave 2 of this bigger wave 3.
we're perfectly on track to our upside targets from the previous post:
GOOGLBreakout of ascending triangle.
If GOOGL can hold above 2500, it can see 2546 next.
Trade Idea: 7/9 2550C. BID/ASK: 6.10/6.20
WISHWish (NASDAQ:WISH) seems to be forming an inverted head-and-shoulders pattern daily, whose neckline is placed around 15.4 and an upside breakout of this neckline will take the stock to 23 in the near future. I have been accumulating this stock over the past days, ignoring the noise and being focused on the fundamentals and potential of the company.
Potential Inverse Head and Shoulders In WishFrom what I see here we have an RSI support lining up almost perfectly with an inverse head and shoulders. If this thing attempts $15 again it will break out. the distance between the bottom of the head and the neckline is $7.21 we add that to the neckline and we get a $22 price target. I am long. but not more than I am willing to risk a loss on.
You must pay attention to these points next week! 👀Ok, we have no buy signs triggered here, and WISH is just falling. But when will it stop falling?
The good news is that it is doing a double bottom in the 30min, and the RSI is a little oversold. We do have a weak bullish divergence too. The 12.10 is the breakpoint for WISH, again. By breaking it, it’ll start to climb again.
The 4h chart is interesting. We are already near the lower band, and we did a spinning bottom today. The RSI suggests we could drop to the 10.37, but WISH is pretty tired in the 30min.
Now is the time to WISH break the 12.10 again! Let’s all keep our eyes on this point next week! I'll constantly update you guys!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
WISH - Obvious Short warningBlueWave gave red dot sell signal
Stochastic RSi was overbought
We touched a strong resistance Level
What's next on WISH? 👍Ok, WISH didn’t trigger the buy sign we talked about yesterday (the supposed Spinning Bottom), and we dropped more.
Now we are holding around the 12.10 again, and we have signs of bearish tiredness. The RSI looks oversold, and I see the 12.53 as a nice trigger. This could save WISH for now, but keep in mind that it could drop more.
The 4h chart is not oversold yet, and if we lose the 11.96, we have the 10.37 as the next stop. Like yesterday, we have a possible reversal sign, but it wasn’t triggered. Always wait for confirmation!
I’ll update everyday about it.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
If this $WISH level holds, we're likely to see a huge reversalIf you are in $WISH today, here is the playbook many ELLIOTT WAVE traders are using. Some variations had buy zones all the way down to $11.80. The low of the day thus far is $11.95. Now watching to see if this retracement level holds, it could signal a coming bullish wave to $17.50 area.
Buying the dip! WISH to $22The pullback continues, but the mission remains the same; the fundamentals remain the same. This is nothing more than an opportunity to load up more shares. Reminder: 7.7B market cap. Last quarter revenue: 772 million... This is a stock you hold when you can get it at these prices.
I am expecting the local bottom to form at $11.30ish as there is a nice volume shelf there. I have buys set at 12.35 and 11.40, which should give me an average buy in price of around $11.80, considering my other buys.
Technical analysis:
We failed to pass the $15 supply zone. We're simply heading down to $11.30, grabbing liquidity and will reattempt to breach $15. I am eyeing the 38.2 retrace fib for a bounce. I think price will respect those trend lines, even though it's rudimentary, I find success with this sort of method and I'm sticking with it.
Disclaimer: this is not financial advice.
ROKU**News came out today about Apple buying Roku remote button for Apple TV+ app.
Call sweepers were active.. 95% bullish call flow. 2 Dark Pool Prints $100M+
Today was a great example of waiting for the right catalyst aligned with a key level break.
448 was the entry. ROKU can make a run towards 486 by Friday this week if it can hold above.
Trade Idea: 475C 7/2 BID/ASK: 3.90/3.95.
I told you the $ 13 was our next stop. 😉And some think TA doesn’t work! WISH did exactly what we talked about in my last analysis: Corrected to the 13, because it was our next support, and it is also at the 20ma in the 4h chart.
Now we do have a good reaction, as we expected, but we must wait for the confirmation.
If WISH breaks the 13.67 I see this as another buy sign! We have a spinning bottom just above a bottom area. I told you we would see something interesting! Now, let’s just wait for the trigger. I'll update you guys every day about it!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
