S2EA34 trade ideas
$SE against all oddsThe technological sector has suffered a significant pullback. Nevertheless, $SE, belonging to it, has show nothing but strength. As most of its peers have been in a down-trend all along September, Sea Limited has had just a pullback and then starting a renued up-trend.
Supporting this, its RSI, leading indicator of strength corresponded to the movements made by a stock, has been increasing ever since its pullback at early Sepember, showing its renued up-trend is legit and backed by the buyers.
$SE has formed an interesting triangle pattern, having ascendent low prices while having descendent high prices. Today has just broken the triangle pattern upside, and the techincal target it offers us is for the stock to aim for the 180 dollars.
On top of everything, the MACD has turned green today. Indicating the stock is not only gaining srenght on its uprend, but also momentum since the 12 EMA is now above the 26 EMA, meaning its prices are heading up on the short term.
SE: Buy at 163.24 Profit Taking at $204.05Sea Limited is insane in the best possible sense. They have 3 major brand and it is growing at an insane speed. SE has the following 3 branches of companies
1. Garena, eSports aka Riot or Activision Blizzard
2. Shopee, eCommerce aka Amazon
3. SeaMoney, ePayments aka Square
These are all innovations in the country where you can boost productivity. There is a concern that this is a Singapore company instead of a United States company but when thinking that this is a country that consistently ranks in the top 10 GDP per capita it relieves my fears. Another concern is that there is no earnings but sales are in the triple digits and you have Fidelity Contrafund backing it. Sales and Yearly Earnings are below
Sales:
Sep-19: +198%
Dec-19: +174%
Mar-20: +103%
Jun-20: +102%
Yearly Earnings per share
2017: -1.43
2018: -2.79
2019: -1.99
2020: -2.39
2021: -1.25
This is forming a Rectangle base and if it hits the buy point with at least 50% volume I would have a 25% profit target. Be careful of the current market trend since it is currently down, which can easily change in a few days.
Long term correction incomingSE has run up over 350% in a matter of months without any monthly consolidation. As seen in the main chart above the monthly RSI is now above 95 and currently forming a reversal candle, which is likely to be the case given only 3 trading days remaining in the month.
Zooming into the weekly chart from here, we can notice that we have bearish divergence along with an overbought condition. The volume the past few weeks has been below average showing that the bulls are running out of steam at these levels.
Bullish short/med/long term! I like SE around these levels.
RSI about 50 - alot of momentum. Moving averages perfect setup and MACD turning bullish.
Bullish reversal with a gap to fill aboveUpdated from the earlier idea with adjusted fibs. Where the extension from March to recent monthly highs aligned, I used that fib as marked entry.
Solid uptrend established
Still oversold on the daily
Entry near the fib especially after a successful backtest as support would be a solid entry.
First gap comes from a large space in which there was no candle closures since the gap down; this may not be a technical gap down but may have an impact on price action. The true gap is small and marked within. Either way, this should make a nice move upward through that space.
Long SEDaily Candles on SE are well respected since May 2020. Expect short-term movement soon, along with MA cross indicator which implies bullish sign in next couple of days. From fundamental side, we can still expect near triple digit yoy growth on next quarter reporting, which falls on November 18th 2020. Perfect timing for accumulation as we speak.
Entry : 147.32 - 149.11
TP 1 : 166.22 (Fibo extension 1)
TP 2 : 204 (Fibo extension 1.67)
SL : 134.73
why pay more ?Let the gap be filled up first. This stock has already gone up 1400% since the low of 10 dollars and while many analysts remain bullish over it, we need to take precaution that Nasdaq or SPX500 with the few tech stocks are at all time high. A correction is long due.......
Unless you are willing to hold this for a long time and do not mind the opportunity costs , then maybe this stock is for me.
It appears frothy to me and I would stay on the sideline and watch it first.......
Looking for long term correctionAs we near the end of the month, we can start to look at the monthly chart. RSI is still in the low 90's and currently forming a reversal candle and it is highly likely it will print one with 8 trading days left given the developments on the weekly and daily charts.
Looking at the weekly chart, we have bearish divergence from the all time high. The last two weeks have lower than average bull volume on the bounce with upper wicks formed on both weeks.
Lastly, looking at the daily chart, we never confirmed a daily trend change and closed today below the 20 period moving average with a reversal candle to the downside. Bearish divergence on the daily is playing out right now and volume is very weak on the bounce with every day since our recent low having below average volume to the upside. The bulls appear to have run out of momentum. The gap below still was never filled, but once this trades to that price it is likely that is not the final destination. I believe we are looking for weeks/months of correction to cool off the monthly RSI.
💻 SE LONG 🖥️After pushing for yet another ATH @165.95 earlier this month, SE has been retracing back to the support trend line that has been holding since early May. Look for a clean break above 150.50-151 before picking up calls.
PT @158-159
Ideal PT @165-167 (ATH)
Conservative SL @145-146
Max SL @142-143
I would consider puts if SE fails to break or hold over 150.60 as I can see it pulling back to low 140's/high 130's
PT @146-146.5 then 143.5
Ideal PT @138-141.4
Conservative SL @151.80
Max SL @153.39
SE: Looong I would wait til SE goes back to its trend line support. got hit hard with bearish market
Ready for reversal and retest of ATHAfter a failed breakout and a pullback, oversold conditions may prompt this reversal. A long-legged Doji on the daily is further indicator of this. Fib levels drawn from recent highs to lows provide support and resistance levels, additional stop loss could be set to previous day's lows or percentage based on your risk level. Ideal entry would be retest of the entry fib as it may gap up over it.
It's got to hit the montly Kijun Sen now. It is overbought on monthly with a 100 MFI. It's got to tap the monthly Kijun Sen around $100 now.
SE is showing strong divergence on 3 hour timeframeTo me, it looks as though strong divergence has been forming on 3 hour for 2 weeks. It is overbought on weekly and monthly timeframes as well. I am expecting a pullback to the $100-$110 area.
SE broken out with a likely continuationAfter failing to break $160.63 on Aug 26th and hold, the break came and held today and continued after hours. Worth adding to the position upon a retest of this level, fib targets above.
SQ - Trend begins?Trend Intact. Retraced to 0.618 levels from swing high.
Buy above yesterday for swing high. Since retraced to 0.618 it will form double top
Volume above average
Main point. Took support at 21day EMA
