U2ST34 trade ideas
U - finished lockup expire selloffU has finished its lockup expire selloff. 5/26 MACD cross up 0. 6/10 20wma cross up 60wma. 6/21 breaks out pivot $105.5.
Next Price Target is $127.5
Unity software - Reverse head and sholder view pointA strong bullish trend has begun on 6/17 with MA 20/60 Golden Cross.
The bearish trend was gone due to the bullish engulfing candles on 6/17.
MA 20/60 Golden Cross occurred and the chart movement is about to test break resistance line with MA 20 /100 Golden Cross.
Trading volume has been steadily supplied to the market. I believe the chart momentum will test the $130 resistance line.
Unity $U formming a "low cheat"I usually have a number of stocks that I like because of the fundamentals, and I just wait for the technicals to do what I like. This time NYSE:U is doing it in a very good way. The price is not yet above its MAs but it has a strong divergence with the MACD and the ADX is below 20 points, all this while formming a "low cheat" which is like a mini "cup & handle" (I learned this reading Mark Minervini).
Normally the "cup & handle" pattern is one of the best reversal patterns, adding this with the other technical signals I think this stock is close to a buy point. Still, for my strategy this setup is high risk. I always wait for confirmation with a second base. IBD has NYSE:U in rank 7 in its industry, and a realtive stength rating of 37; not my usual stock.
The thing adding to my optimism is that breakouts have been working better for the last 2 weeks. I even missed a few stocks because I was being cautious. With this one I would add just half my position size and if it goes my way I'll add my full postion.
Unity LongUINITY (U) is attempting to break out from a bull flag and break up through a several week Downtrend resistance level. The Strong close on today makes it even more appealing.
$U looking nice...Chart looks primed, not my own idea saw it posted and looks like it follows my technical set ups..
6/5 U(1) quite much resistance above
(2) 110 could be the resistance in short-term, but do get some calls/shares for yourself if you bullish
U - Technical Analysis- Broke out of desc triangle (bullish)
- needs to hold over 100 on this current retest. Break above 110 confirms bullish pattern.
- price target is at rectangle, and blue lines are resistance levels and potential future support. Expect buying and selling at those blue lines and retracement to moving averages on the climb up.
- Criminally sold off and gave back most gains in the recent growth sell off
$U Alert set for breaking above 104 (Close Price)Currently, OBV is above MA30, which is what I like.
Yet, Better to wait for breaking above 104 (Close price).
Not recommended to buy or sell U stock.
Just an Idea,
BTO $U 20210521 $110 call for short-term practiseAnother short term call option practice. BTO $U 20210521 $110 call at $3.4.
Reason:
1. narrow BB width
2. price above 10/20 day SMA
Low downside - high upsideIf the price manage to break above the consolidation I see a resistance around 114. If it manage to do this, it will move above EMA50 and EMA100, and gain even more momentum. Afterwards it might run to ATH and the potential upside at 63,50% .
Unity's Squeeze-Price Inflection oscillation tied to EarningsPremise:
Convergence probably occurred before initial jump to ATH (not drawn)
2nd convergence noticeably begins around the time Momentum Squeeze kicks in for the buildup to Q4 earnings report.
Momentum at breakout was BEARISH, despite P/L changing in the positive direction (earnings much closer to estimate than in Q3)
If this performance holds up, Unity's stock should be competitive against established entities (see background: 700 and ATVI) in the gaming market which looks poised to resume an upward trend.
One Possible Scenario:
The last 2 weeks in March are showing the beginning of a 3rd convergence; will keep updating to see if this pattern holds up.
A new Squeeze indicator along with past experience suggests it will, crucially timed to the earnings release on May 6th.
The sine wave shown here in purple is not meant as a trendline projecting the stock's price level at some point in the future but is simply an extrapolation of past inflection points to identify at what point along the new growth curve the stock will be if and when Momentum breaks decisively in the positive direction.
My conclusion is that Unity will probably continue trading in its current range for some time, possibly even taking another downward turn this month as public sentiment on the stock has been increasingly bearish as its clear it isn't poised to rocket back to 150.
That would be the time to buy and hold, if the enthusiasm for Unity among developers is to be taken seriously, or at the very least, place your May-21 calls.
Unity Software AKA U has a great potential and RRThe current price bounced from 0.786 Fib level (Daily) and yet to fill the gap at $148 zone. In my opinion they are a long term buy. also broke the trendline plus double bottom on daily.
chart says it all, they do have earnings announcement in May.
Unity In Butterfly HarmonicsUnity could do Butterfly Harmonics
Bounce bases are base on RSI being over sold.
