Clov is a crab!crab harmonic pattern:
AB=0.38 XA
BC=0.88 AB
CD=2.6 BC=$14
or
CD=3.6 BC=$18.5
or
CD=1.6 XA=$29
CLOV trade ideas
CLOVER HEALTH breakout tradeClover health strong volume good momentum breakout trade
EP: 9.27
SL: 6.80
TP: 13.16
CLOV ready to bounce backThoroughly beat up by short sellers and hit pieces by detractors, this bargain bin darling is ready to rocket.
Picking up shares anywhere south of $10
ClovTesting resiatance at 10.60. If it can flag out and get some support above here it would be very bullish. A drop should find support at 9$ If it wants to maintinf the bullish run
$CLOV$CLOV - Huge volume and interest from the last trading day. The green engulfing candle is a vital reversal sign. There's resistance at $10.56, and the breakout point is $11 - GOLDEN CROSS.
Something Might Be Brewing In CLOVIncrease in volume at a lower level indicating smart monies have started accumulating CLOV stock. A pullback to support level may be needed for retailer investors participations.
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
CLOV Short Term BearishCLOV short term classic bearish divergence on the 4H.... market is shit for small caps and spac's rn... where will this lead us past support?
CLOVSHORT-TERM: Support/resistance flip with hidden bullish divergence, break above VWAP. (not financial advice)
CLOV Game PlanCLOV has been beaten up past a lot of strong resistances but i see a nice swing opportunity here for both short and long term.
This is currently still bearing but I see a uptrend in the near future.
Please note these are just my ideas and game plans. I am not a financial advisor
$CLOV overhead resistance levelsCLOV news and high short float has people calling for a reclaim of highs. But these key levels need to give way first. Many bag holders overhead so I expect it won’t be easy. However the volume POC was traded thru today showing that buyers are serious.
CLOV might reverse from here We could see $10-$11 zone in a couple of days. might reverse from this point. triangle broke out today
Time for a reversal after weeks of bearsThe pace is slow into a bearish trend for weeks but price action does show some support above the weekly support. Watching if it can hold the 4H support for confirmed double bottom and break above the key s/r.
CLOV trading sideways. CLOV has been hit hard with the false short seller report, and couple that with the market conditions recently this stock is way undervalued. We bounced off support and it seems now that we are trading sideways after a small move up. RSI looks steady wanting to head high towards the overbought territory. MACD is in the green and it looks like it wants to widen greener. This is long hold for me and have no problem scooping up more shares at these prices. In Chammath we trust.
CLOV Post Earnings Bounce PlayThere are many reasons to favor a CLOV long position here with earnings on March 1, 2021.
1. We have wicked off the same bottoming zone explored last November. This has many characteristics of a capitulation wick after the rapid descent following news of the DOJ investigation.
2. Short interest on this stock is quite high, although reliable up-to-date information is hard to find but nonetheless appears to be fairly high (30%), and RSI appears oversold.
3. The options market is skewed towards puts - putting the max pain point between 12.50 and 15 - more than 25% above current levels. swaggystocks.com
4. CLOV's 50% decline into earnings fits the Goldman empirical earnings system quite well which shows that stocks declining into earnings tend to pop after earnings - generating an average of 18% call option returns vs 4% for all other stocks post earnings.
5. It appears that the decline in stock price is solely due to news surrounding a DOJ investigation rather than trend changes in the business or market. The history of TSLA and FB stock suggests that legal-related FUD is often transitory, as opposed to market/moat-related FUD.
6. Finally, technical factors favor a bounce in the overall market in the coming days, and today's 8% drop in CLOV accompanied a dramatic but failed selloff in the S&P 500 (see VVIX divergence mentioned in analysis below)
Lastly, for those more concerned about the DOJ investigation than the charts or technicals, consider that the investigation began before the recent transition in the Executive Branch, and Chelsea Clinton - Vice Chair of the Clinton Foundation - serves on Clover's Board of Directors. For reasons completely outside technical analysis, it would appear that serious indictments by the DOJ are highly unlikely due to political reasons. investors.cloverhealth.com
Just consider this like any other transitory FUD and take advantage of buying opportunities found in the charts - as you would with Bitcoin, Tesla, or similar assets. In addition to the shares I purchased yesterday, I purchased $10 call options March 19 ($1.05) and a 12.50 LEAP (June dated).
Clover Health Will Show A Technical Growth In Channel To $9.92After a false breakout due to a correction in the broader market, $CLOV has re-entered the falling channel it has broken out of and closed within it.
From this area, I expect growth towards the resistance zone around $9.92 to $10.00.
However, do note that this zone of resistance that we are heading for is a very strong area of resistance.
In this area, we see an intersection of:
1. Dynamic resistance created by the upper parallel line of the falling channel
2. Fibonacci resistance and Horizontal resistance
3. Former $10 SPAC price floor which acts as a very strong psychological resistance
Regardless, I expect a move towards it first. Would have to see how the market reacts to this level first before deciding on our next course of action.
This is not an investment or trading advice so please do your own due diligence!
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Clover Health Continues To Track The Broader Market Very CloselySince the market started selling-off late February due to disturbance in the bond market, the movements of $CLOV has since been mirroring the direction of the overall market relatively tightly. With the closing of the market earlier today after a considerably sideway and mixed trading day, S&P 500 rose by 0.60%, NASDAQ fell by 0.04%, while Dow Jones Industrial Average rose by 1.46%. Similarly, $CLOV also had a relatively mixed trading day, showing green for the first half of the trading session, and later closing slightly red on the second half. These movements can be attributed to the general market condition as well, where during the first half of the trading session, the release of bullish CPI data edged the market higher, while a relatively average and within expectations $38 billion 10-year notes auction brought the action back down to trade relatively sideway.
I expect $CLOV to continue tracking the overall direction of the market closely, at least for tomorrow, where we await for the result of a $24 billion sale of 30-year bond that can potentially move the market significantly in either direction, should anything unexpected occur.
Regardless, it is good to note that on a technical perspective, $CLOV is approaching some key trading area that we need to take note of.
We are currently resting just below the dynamic resistance formed by the bottom of the previous bearish channel that were trading in before this bond-induced market correction. While we may have already rejected this area once (likely due to the broader market movement as mentioned above), if we are able to break back into the bearish channel, our next target would be the next Fibonacci resistance and the top of the aforementioned bearish channel at around $9.92. However, if we fail to break back into it, we could be looking at a re-test of $7.78 or even $6.67. As such, tomorrow's trading session will likely be a very important one as it will give us an indication of where we are headed short-term.
Invest safe.
This is not investment advice so please do your own due diligence!
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CLOV bullish reversalAfter seeing a double top in January, CLOV seems to have found its lowest level of support around $6.28 per share. Analysts have a price target around $13-$15 per share, which is very reasonable based on Fib retracement. Furthermore, on the daily chart, we see the MACD converging back up toward the signal, with the RSI 14 back on the rise now, from bottoming out at about 26.
be careful herethis is why i dont trade recent IPOs, half of them are pumped and dumped by huge groups and leave the little guy holding a fat bag. dont be surprised if we see a test of 1-2 in the future. ugly! trade safe guys
