1IRBT trade ideas
My Watchlist and favorite for 07-24-2019 $IRBT $TUP $CAT $UPSGood Morning Guys, its a busy day for us short traders, i will give my opinion on NASDAQ:IRBT , we are below all Moving Averages, the set up its great, we are down on earnings, and we have a massive pocket if we are able to break the trend line and the 71.27 level, my first PT is 69.00, from there i will scale out, i usually manage my trades as long as the price action remains below the 20EMA.
Other interesting names are:
NYSE:TUP
NYSE:CAT
NYSE:UPS
Remember that this is for educational purposes, trading is dangerous.
$IRBT Bottom consolidation Watch 93 on this93 break could bounce this into the gap Has a lot of upside potential
IRBT - BULLISH SCENARIOOutlook:
- daily bear flag
- daily chart grinding MA200
- daily RSI about to hit oversold condition
Trade plan: bullish
Entry: ~ 100
Stop loss: 96.58
Target: 114.39
R:R ratio: 3.67 :1
IRBT - BUY SIGNAL AFTER A SHARP DROPOutlook:
- A strong bounce after closed above daily MA200 is anticipated
- Any bounce (Wave B) will be met with strong resistance at the low of Wave 4 (114.50)
Trade plan: Wait for price action on Mon and go Long
Target: Wave B (111.18-114.50)
Stop Loss: below 96.50
Note: Every daily RSI oversold (green circle) have resulted in a strong bounce since 25 Oct 17'
$IRBT shortWe took $IRBT short in our chatroom today at open at 107. Currently sitting pretty at 104. Classic ORB short.
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bullsonwallstreet.com
IRBT: Inv H&S on a weekly t/fThis is going to rip so hard for days to come post er imho. Locked and loaded.
iRobotBig fan of the momentum moves with this name
looking to take a tight risk entry through 125.00
target is 140
wouldn't give this name more than $5 - 8SMA at 120
IRBT Short SqueezeKind of a wild play, bought a couple of IRBT March 15 call contracts on the dip because this thing is 110% institution owned with a lot of shorts trapped from the 2 downgrades.
Completely a short squeeze play, P/E is 42 so there's no fundamentals here. Looks like the squeeze target is $150, but I'm nailing by the end of the week regardless.
IRBT BubbleObviously bubbling up, but here's the reason why I'm not shorting this:
finance.yahoo.com
Institutional ownership is over 100% (use you own stock screener), all the shares being traded are borrowed shares. Valuation is high (PE approaching 40), but there's an obvious potential for a short squeeze given the limited number of shares available.
There's an obvious temptation to short the market given that it's going full pumptarded, but until institutional holders start selling, nothing is going down. Look at any stock and Fidelity (FMR) is always in the top 5. Why? 401k. Hardly anyone takes money out of their 401k until they retire. Very few people try to market time their retirement accounts.
I'm not buying into this, but I'm sure it's going to break out instead of double topping just because it's a very crowded game. Be careful shorting anything in this market, at least check the institutional ownership before shorting.
