VRM trade ideas
VRM - Vroom VroomVroom is forming the potential patterns for a reversal.
Two weeks ago, we had a weekly hammer bottom, generally a reversal signal
The next two weeks, we've seen higher lows and higher highs indicating continuation from here is possible.
It's time to breakout!Looking to buy between zone #1 and #2. Oversold on all timeframes. Playing this position long from the weekly timeframe. Stops set at $18.
Possible Wyckoff Accumulation on VroomI'm not too sure if this is accumulation or redistribution. If the price could break above the initial support of the sellers climax (SC) with some decent volume; I will be more convinced that we are in the final phases of accumulation. Lets just see what happens.
TrendyTrades: VRM Bullish Analysis with confirmationVRM: You wanna see a close above 29.60 for confirmation that price will push back up to 36+
Sunday Prep 8/14 - $VRMShe’s not there yet, but if Monday this can flush hard down to the ATLs, I think it should offer a decent bounce. Keep in mind, I would prefer it to just slam down there. If it just has a constant grind lower then I would most likely scrap the idea unless I saw some definitive higher lows being put in and giving me the ability to have clear risk. If it were to lose those 26s, the next area I would consider revisiting the idea would be 22-23.
Sunday Prep 8/14 - $VRMShe’s not there yet, but if Monday this can flush hard down to the ATLs, I think it should offer a decent bounce. Keep in mind, I would prefer it to just slam down there. If it just has a constant grind lower then I would most likely scrap the idea unless I saw some definitive higher lows being put in and giving me the ability to have clear risk. If it were to lose those 26s, the next area I would consider revisiting the idea would be 22-23.
Symmetrical Triangle - Watching closelySymmetrical triangle forming on VRM-
- Looks to be a falling wedge forming on shorter timeframes as well
- MACD Cross
- Bollinger bands squeezing
- Slight bullish divergence on the RSI
- Just some support and resistance levels to keep an eye on as well as some RSI based supply and demand zones
- Infrastructure talks could serve as a catalyst for a nice bounce (Broader Market Condition Permitting)
PT1- $38.25
PT2- $39.56
PT3- $40.32+
Price reaching demand zone for VRMAlthough earnings is right around the corner, price is getting ready to enter demand zone, could be an ample opportunity to long. Although, I strongly recommend waiting until after earnings to enter the trade. Demand where the buyers are at, supply where the sellers are. I plan to long few options positions.
Long | VRMNASDAQ:VRM
Possible Scenario: LONG
Evidence: Price Action
TP1: 46$
TP2: 49$
Call options, Strike 50$, 06/18/21
* This is my idea and could be wrong 100%.
SupportVRM tested $32 support with strong buys for the second time at this level. Short-term looking for a move up to close the gap in price. MACD on daily chart attempting to go above 0. Giving this further upside momentum. Even though ER missed, VRM had an impressive rev growth and have more than enough cash to cover current liabilities.
VRM elliot wave analysisWave 1-2 could potentially be an ABC correction for more downtrend. Long entry trigger over $48 with stop at $46.
$VRM - Structure bounce $VRM structure bounce last one we caught 37 to 57 in a few days, Search VRM in my plays search bar to see last play that worked perfectly. I see bullish rounded bottom, w pullback to structure, 3 star play due to my feelings on the on market overall. Market should bounce a lot if it bounces & fades we will see another low in indices in my opinion.
Long VRM We are still going LONG after a nice breakout, keep your targets in place and try to take some profits as we keep moving higher.
VROOM go BOOM!I really like the way this chart is developing. After finding support at $35.83 it made a healthy move higher and should continue to move in this direction. They are airing a commercial during the Super Bowl which should increase site/app traffic and the company reports early March.
The new and used car markets are still hot. With major autos like Ford and GM announcing production shortages due to chip shortages VROOM is a great stock to be in.
One to two week price target of $52 followed by one month price target of $68.32 with an earnings beat in March.
Bullish engulfing candleVroom is a e-commerce platform for buying, selling and trading-in used cars online. Earnings date on earnings whisper says Feb 17th , while tradingview says Feb 11. 1200 March $45 calls were bought Feb 5th at $6.7. The Feb put call ratio is .20 , short interest is 6.9% . Finviz.com has a $55 price target. I think we get a higher low on daily, then back up next week.
