New Setup: FNKOWhile the news are all calling for a bloodbath in stocks, there are a few notable stocks that are now setup.
FNKO trade ideas
FUNKO_Funko_1W📊Funko FNKO stock analysis
In the long term, the market is at the bottom of the price and based on Elliott waves, it has completed the 5th wave of decline and is currently in the 5th wave of decline, which can be suitable for investment.
Support range 6.50
The target is 18.00 and 22.00
Very soon FNKO will be ready for a long position
NASDAQ:FNKO
$FNKO::$10.8->$21.5::100%:Oct of 2023.
Does not constitute a recommendation.
#investing #stocks #idea #forecast #furoreggs
Long Trade in FNKOFunko took a beating in last year’s bear market, but the stock is quickly coming back to life.
FNKO surged on earnings last week and has given back almost none of the initial move.
Shares are barely retracing and doing so on minimal volume – a sign that no one is selling.
This trade is pretty simple – draw a trend line and buy when it breaks above it. I forgot to publish this on Friday, but Monday's action is pretty much exactly what I was hoping to see.
A good breakout should not retrace to the low of this consolidation (currently 10.74), so you could take a stab at this one with very little risk.
FNKO (Funko) SHORT TF H1. TP = 8.32On the hourly chart, the trend started on April 13 (linear regression channel).
Since the trend is not over yet, there is a high probability of profit.
A possible take profit level is 8.32
But do not forget about SL = 9.74
Good luck!
Regards, WeBelieveInTrading
FNKO BUY++++ WAY OVERSOLD 15 RSI!FNKO dropped hard on earnings miss and guidance, but who hasn't? FWD PE of 7. This should dead cat bounce back to $11 in coming weeks. Purchased 50 in the money Jan 20, 2023 $7.50 calls
FNKO Accumulation signals 26% off 52 week high when markets drops over 30% and most leaders down over 50%.
Cup with handle pattern with accumulation signals from alpha bars.
Holding pretty good with this bear markets as well.
High relative strength.
10 W MA and 40w MA in converging.
We could see a very good move to the upside once buyers regain control.
FNKO - Longs As per the chart,
Gone long on FNKO - Being honest, I think I got in a bit early but we shall see.
Successive higher highs and higher lows
Emerging from base
RSI New highs
Tight stop as always
will trend resistance = support? 👌lets see what happens, watching for longs if we use resistance as support then bounce.
but shorting can payout below 20.88
Funko outlookFUNKO
Trend:
Above 50,100 and 200 EMA
Positive ADX, DI above 20
Trend seems to be strong
Macro outlook:
Speciality retail
Funko is a leading pop culture lifestyle brand.
They provide connection to pop culture with a product line that includes vinyl figures, action toys, plush, apparel, board games, housewares, NFTs and accessories.
Recommendation:
Wait for price to cross above the resistance @ 27.32 for an entry
FNKO Fnko, maybe missed this one for now.. but looking at the weekly could just be starting a good run.. held up well.
FNKO -> IPO Base FNKO was coming out of a broken IPO base. It rallied 50% off the lows and continually made higher lows (a constructively pattern for a long position). There was increase volume as the stock started to base out in March- on the left side of the base. As the stock made its way through the base pattern, volume dried up and price volatility contracted, again constructive signs to initiate a long position. At this point in time, the 50MA was increasing + below the stock price signifying the medium term trend is upward. Now its just a matter of finding an entry point. A low risk entry would have been at the EMA Crossback (reference made to Oliver Kell)
The trade is immediately in profit and doesnt test the stop loss at all. (position is validated from the start). The chart identifies areas to take profit at the 10EMA extensions
FNKO Explosive MoveFNKO shares exploded 26% yesterday on the announcement of a 25% acquisition of its shares by former Disney CEO, Bob Iger, and his consortium.
Could this be the third wave to the upside ? The wave counting seems legit. Yesterday's gain also broke the $20.85 pivot high formed on 4 March 2022. This will be a very interesting month for FNKO.
The Chernin Group-Led Consortium to Acquire $263 MillionFNKO: The Chernin Group
2022-05-05 16:00:00
The Chernin Group-Led Consortium to Acquire $263 Million in Funko, a Leading Pop Culture Lifestyle Brand
FNKO Long Price is consolidating inside previous months range. Also within previous weeks rang. Is also sitting on the .618 of monthly high low pivot range. Watching for a break out of weekly consolidation.
FNKO break out$fnko did break out of the falling wedge, want to see this green candle intact going into this week's closing. Another thing I am looking to see is volume... Volume is low both on weekly and daily... Which makes me really unsure
$FNKO weekly breakout impending..Hoping to see a clear breakout of this falling wedge on the weekly by end of next week
$FNKO broke out of falling wedgeHope to see continuation and rally from rotation into small caps + nft hype...
FNKO could retest bottom of falling wedgeI think $FNKO may be headed to do what the title says.. I should have sold at resistance but no I did not because of FOMO. That's alright I still have strong conviction that this will rally on rotation into small caps, and that it will rally BIG because of its NFT business.
Still waiting for downward wedge break out$FNKO.. should be good to rally once IWM picks up... Just a disclosure this is one of my high conviction plays and I got in at a bad entry point... Should have waited...
$fnko - direction unclear This looks like it might retest the base of the falling wedge... Which I won't like. Want it to break out of the purple soon. RBLX had a similar move after breaking out of a falling wedge. These consolidations are very choppy.
$FNKO failed falling wedge breakout? I initially posted on $FNKO breaking out of falling wedge (see green lines) but now it seems to be failing. Need this to break out of the purple line soon or we might see this going all the way down to bottom of green falling wedge :( .
$FNKO still consolidatingSeriously seeing this go down 3 days in a row really affects me psychologically man. But I am sticking to my fundamental beliefs and hopeful outlooks for NFT stocks to pop. Got an upgrade today too so it may help with price.
