Vroom (VRM)On the above 10-day chart price action has corrected a whopping 80% since July. The correction follows the 200% move that printed from May this year, idea below. The majority that have sold since July did so at a loss. Now is an excellent long moment. Why?
1) Price action, RSI, MFI resistance breakouts.
3) Regular bullish divergence. Just as will the idea published in May multiple oscillators are now printing positive divergence with price action.
4) No stock splits.
5) High short interest. Again! Just as with the published idea in May, short interest peaks, ie. Put contracts exceed Calls! What’s wrong with people? Almost as if burning cash with fire is not fast enough.
In the month of May, 2023
"Off-Exchange Short Volume Ratio 48.48%"
December 2023
“Off-Exchange Short Volume Ratio 42.43 %”
source: fintel.io/ss/us/vrm
6) Some other stuff, will say elsewhere.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: investment
Risk: <=6% of portfolio
Timeframe for long: The remainder of the year.
Return: Don’t know
Stop loss: not written here
