Stock Alert: CLOVBreakdown:
Heavy sell timeframe (Highlighted in Red box) from 2/23 to 3/8. Looks like $9 is the Resistance level here. Possible that this takes around the same amount of time to complete run back up (Highlighted in Green box) with a completion date of 4/30 that would put us back in the $11 price. CLOV might have a few volatile days along the way but I'm pretty confident in a $11 PT. I don't see this going down past $7.30 for long before bouncing back so not much to risk here really.
I'm not sure how much higher this could reach if/when it reaches $11, FOMO would likely be in "full effect" at that point.
*Support, Resistance, and Price Target Marked in chart*
Will try to update as days progress.
Lets see how this plays out!
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CLOV34 trade ideas
CLOV - The party is overInvestors jumped the gun based on faulty short interest numbers from S3, anticipating a short squeeze. The recent rises in price were not due to a squeeze, simply impulsive investors still chasing the dragon after GamesStop. Trading volume has completely slashed following S3 admitting their mistake and publishing corrected numbers. With the thesis for the CLOV squeeze broken, look for this stock to complete H&S as investors inevitably dump the share price once boredom and fear of loss sets in back to the 7.75 range.
CLOV and the Fork IIAlgo chart from previous analysis.
I am using a Median Line pattern and the Center Line is the "ideal first" target zone.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
$CLOV can rise in the next daysContextual immersion trading strategy idea.
Clover Health Investments, Corp. operates as a Medicare Advantage insurer in the United States.
The demand for shares of the company looks higher than the supply.
This and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $9.67;
stop-loss — $8.48.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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Something Might Be Brewing In CLOVIncrease in volume at a lower level indicating smart monies have started accumulating CLOV stock. A pullback to support level may be needed for retailer investors participations.
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
CLOV trading sideways. CLOV has been hit hard with the false short seller report, and couple that with the market conditions recently this stock is way undervalued. We bounced off support and it seems now that we are trading sideways after a small move up. RSI looks steady wanting to head high towards the overbought territory. MACD is in the green and it looks like it wants to widen greener. This is long hold for me and have no problem scooping up more shares at these prices. In Chammath we trust.