BUY $MVIS PT 8.45 PT2 9.5 SL 6.28Rationale
Volume Shelf, Large demand in the 7 zone
Coil pattern
Buyout rumors
Other similar lidar companies like LAZR are in an upward trajectory
Peculiar -Options contracts go up to $19 for Feb, but not for March
Options value & flow is above average
Secondary offering back in December
Thanks to the market wide pullback on friday. This $MVIS play I played earlier in the week is coming back for a second round, with the price retesting the volume shelf (again!). I'll be entering monday, assuming it doesn't gap up. This time i'm going to use a tight stop.
0K17 trade ideas
$MVIS Still Holding Upward Trend$MVIS is still looking good for me. Trend line up is holding and dropped in price the last few days on low volume. (Consolidation)
The next resistance levels should be the thinner green lines above price. If trend continues up and volume comes in, I have a PT of $13.94 which is the 1.618 fib level.
This is not advice.
30M Gann Fan HarmonyBy placing the Gann Fan at break out points, it creates precise Support, Resistance, channels, and pivot points. Combined with the Bollinger Bands, we can now identify future trends before they happen. This same method can be applied on shorter and longer chart ranges (i.e 15min, 1day, etc). Breakout to double digits incoming!
MVIS Cup & Handle with Broken Resistance Trendlines1 day break of resistance and beginning of the leg up after the formation of the handle in the "cup and handle" chart pattern. MACD is almost crossing on 1 day and 6 hour just crossed. Lots of great things happening with this chart.
There are a lot of hype behind being bought out as well at some point by big names such as Microsoft and Apple.
Here are my projections for the upcoming 2 weeks.
1 week - $8.50
2 weeks - $9-$10
BUY $MVIS PT 8.33 SL 5.34 Short term long
Rationale
Volume Shelf, Large demand at current prices
Coil pattern
Buyout rumors
Other similar lidar companies like LAZR are in an upward trajectory
Peculiar -Options contracts go up to $19 for Feb, but not for March
Options value & flow is above average
Secondary offering back in December
Microvision short/long term prediction a nice cup and handle is forming on the chart. Expect it to either trade sideways for a couple days and then boom. It COULD boom tomorrow/thursday but with the election uncertainty there might be sideways trading in that channel. The $5 days are over this is going $10+
$MVIS - playing cup and handle with tight stop lossI am just playing the chart and indicators on this stock.
I do not know much about the company.
I am seeing the classic cup and handle formation setting up.
I am in a small swing trade with tight stop-loss since it is not a company I know.
I played options on the first run up and exited with 22% gains (entered Jan 6, exited Jan7)
I entered my new position (swing trade) around the $6.95 mark Jan 15 and have a tight stop-loss at $9.48. I will exit at $11.50.
Risk $0.50 to make $1.50
Should it pass $11.50 I will move stop-loss up to $11.50 and continue to increase it as long as the stock continues to go up.
Let's see how it performs.
Classic cup and handle formation
The "classic" cup and handle pattern has at least a 30% increase, followed by no more than a 30% decline, then finishes the cup over the span of at least 1 month.
The handle will be a pullback of around 5% followed by a rally
PT estimates for 1/11 and 1/12 - Fan/FibLooking back at the past 2 cup formations, there is a consistent 13 bars on the 1D chart, between the two highs, before retracement. With lots of compelling, and positive, news around EV developments (i.e. Apple/Hyundai and NIO/Nvidia) there are more eyes on MVIS and their development towards the most advanced Auto LiDar on the market. The break above $5 attracted a higher level of investor, bringing more Volume and more potential to run parabolic.
Keeping the same measurement of 13 bars between peaks, this will land us on 1/12 for the next peak, and 1/13 could start a retracement.