MVISWe're on the verge of a possible breakout in the shares of Micro vision, Inc.(NASDAQ:MVIS). The stock finished the day up 36.76% on a huge volume of over 117 million shares exchanging hands on the day. I'm watching the stock again as the stock looks to be setting up for a big upside move. The technical chart shows a possible new rally as the MACD fast line is back above the MACD slow line, while the RSI is also gaining strength developing a new uptrend and with stock back above 20-day exp moving average we should see more upside coming. The key resistance level to watch tomorrow is at $19.37. Watching for a possible breakout there.
0K17 trade ideas
Strong buy - MicroVision (MVIS) broke its 30 day moving averageMicroVision has been in a consolidating pattern for several weeks and while today it saw a huge increase in volume and price action, this allowed it to break out of its 30 day moving average. This is a huge buy signal as the stock moves into stage 2 (out of 4 stages) which is a growth pattern.
MVIS Trade evaluationWe bought in and sold very early, this is a lesson on why you should (SOMETIMES) let your winners run and have your stop losses set up to safety net your losers.
Note the private idea I made earlier this week regarding mvis breaking out of its fibonacci retracement zone and how I used that to accurately predict this price spike with the volume and fibonacci indicators.
For our new expectations with this stock we could see a brief pull back to lower levels as retail traders find their exit from this trade and/or it just simply trades sideways and establishes a new price range.
MVIS Top at $20?Hit strong resistance at $20, looks like support is found on the 20SMA 15m, around $17.
Earnings, lots of 20c 5/21 volume. Let's see if the retards win this one or end up as baholders. Tale as old as time.
IV is stupid, I would sell naked calls or spreads, but my margin is limited rn.
If anyone followed my 4/21 call, congrats on a more than expected run up.
Anything above $20 is beyond hopeful. I'm probably going to buy poots when there's a confirmed reversal.
MVIS; A short chart analysisDISCLAIMER
This is in no way, shape or form, fluid and function, an analytical, qualitative or intelligent compte rendu. I am obviously not rich, so obviously I haven't made it with my own thinking, so definitely don't put faith in me. But maybe check out my chart and laugh at my lines.
Thesis
I am not doing a write up on this stock, there are many more intelligent people who have done greater coverages of MVIS, also I believe this stock is not in complete reality as short interest is super high, I have been watching the level 2 data and charting a bit and there is an extreme disconnect between reality and share price. There is significant talk of a valuation at 15 billion, acquisition by Microsoft, etc. I can't say yes or no to any of those claims but I can say that this is a technical analysis of the stock chart only.
Chart Analysis
I just wanted to do a very basic trend analysis. I believe there is a good range of date and price action, I don't spend money on this sort of analysis alone. Do not use this in real life!!!!!!!! Just look at it to get an idea of possibilities!!!!! If there is a short squeeze, you can expect a huge shift from this growth channel.
Microvision April 2021Breakout of this pattern will send us testing the upper range of the bollinger band around 19.50. A failed breakout likely send us back to that 14.73 area for potential new support, which IMO would be a healthy move. Expected A-Sample update on April 29th's earning call will impact the share price.
WandaVision was a pretty good show, solid 7/10, $MVISStrong rebound off $10, stonewall support. Looks like a lot of buy orders hit, not sure about any news catalysts. Lots of resistance however on the larger time frames.
MVIS gapped down on the wedge break out, pretty bearish IMO. Old resistances become new support, and old support becomes the new resistance.
3 & 4Hr has the 50SMA as resistance, if it can break that'd be good.
resistance at $13 maybe? Idk if I wanna cop a call just for the possible extra little gap up after a 20% day lol. My money is better elsewhere.
I could short at $13 too. Earnings 5/6, that could've been the catalyst. Pre earnings run ups are common. Just like my NIO call, get in get out quick. I wouldn't stay too long in this one.
May haha get it 5/21, or may not cop a call if i got some extra funds laying around. Looking more on the put side.
4hr RSI looks like it can go slightly higher, MACD just did a cross over. Yea honestly looks too late to get a call for my personal risk tolerance.
MVIS Heading Straight to $30 With Help from WSBWe had a strong retest and bounce off .382 retracement at $10 today. If we manage to hold outside this channel we could see a 50% move back to up recent highs at $20.
End game goal is $30 for a potential 130% swing opportunity
Recently getting pumped on WSB so the volume will be there. Stop losses under $9
MVIS BUY/LONG Potential from 12.50 to 32.50!1st SAFE Take Profit: 32.50
Technical Analysis
1. Pennant Pattern
2. Fibonacci Retracement at 0.618 (Golden Zone)
3. Potential Pennant Breakout (incoming)
4. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
5. RSI was recently oversold
Note that the market could still potentially fall to 6.30
MVIS earnings coming up. MVIS was a stock that made us good profit, and we were up nicely. Sold half the position but remained with the rest, and now we have been red. Like all stocks this is seeing red, and hopefully this red can stop. Today we are seeing green and the daily chart is looking good. RSI is heading up while the MACD is in the red, but is ready to close red and turn green. It is using the 100 sma line as support and look for this to bounce off of it. Earnings are coming up and it will be interesting to see what the state of the company is, and what there plans are.
MVIS just hit 3 support lines! Can we expect 80% upside??I didnt mention in the picture but the RSI was nearly oversold too - so many bullish signs, ask me anything here and Ill respond if I see it! (the 80% upside isnt too hard to achieve becos if you notice, its been flitting between support and resistance, going up and down 70-90% each time NASDAQ:MVIS