WIX/N trade ideas
WIX reaching resistance levels, should sell Short setup, volume has been decreasing and WIX has been reaching resistance levels.
$WIX Breaking out of ascending triangle$WIX Breaking out of ascending triangle
Target $100+ near term
Can wix push to $90 - triangle continuation wix has been strong since recent earnings $60 - 70 - 80 possible continuation triangle for another push to $90
WIX, the shopify friend as you all probably know, shopify is one of the stocks that has grown the most the past few years. Wix is actually really similar as it's focus is on simple website creating, if it is a restaurant main page or basically anything else, you can make it with wix, with literally no knowledge of creating a website.
That being said, it dropped down to about 60 usd a share a while back where it sat as no one noticed it, and then it suddenly started hitting the 70 mark and now the 77 mark.
most hedge funds seems to think that this is the highest it can go, which I agree with.
on a Q to Q basis they are losing 15m-6m per quarter, but revenue has been steadily increasing with about 7% at the same time, but the last 2 quarters their investments tanked quite a bit (about a 100m).
equity laying on almost a break even I'd say wix is probably a bit over valued at the moment, but if it keep up the momentum and start decreasing the amount of cost, it could justify sitting at around a 3B USD market cap, but at this moment I think it's almost a short in the long run down to about 60 again ( if nothing changes ).
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it seems investors look at WIX as a growth company compared to shopify, but it doesn't seem to have the same growth potential as shopify is using the pyramid technic which is effective but quite expensive in the short term.
WIX buyable againTook a break in 2017 after a strong 2016. Pulled back ~40% and now breaking out after making higher lows and crossing back above 200 day MA. If fundamentals reaccelerate the stock should go back to highs pretty quickly
$WIX bumping against a trendlinea little nudge from positive ER and it can easily explode to new ATH
WIX in wave 4 of minor 5NASDAQ:WIX
1- Currently in wave 4 of minor 5 of intermediate 5.
2- Support at 38% FIb retracement.
3- Bullish Candlestick Pattern.
4- Stochastic Oversold
Buy at current market price
SL: 67.43
TP: 88.00
Long WIXHalf position size on reversal candle in a down market. Tight stop due to increase in market volatility.
WIX - rebounded at 20MA on strong volumeVolume came in strongly on Friday. Let's see if it can clear the previous high.
