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Purple Innovation, Inc.

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PRPL trade ideas

$PRPL in an ABC correction of Minor wave 2 (1-2, 1-2, 1 setup)-Primary wave is in Green, starting at Sept 4th low to Oct 20th high -Intermediate wave is in Yellow, starting at the Nov 11th low to the Nov 30th high -Minor wave is in Pink, starting at the Dec 14th low to the Dec 18th high. - The Pitchfork is following the Primary wave Watch for $PRPL to come down next week as it completes the ABC correction to finish minor wave 2 (in pink). From there im projecting a high of $31.50 around Jan 8th to 11th before a retrace to $29-$30, and then a completion of the minor wave 5 (pink) to complete the intermediate wave 3 (yellow). Intermediate PT of $38 by early to mid February. Long term PT of $47 around mid March to April. Note: Be aware that time targets are approximations, and less accurate the further out we project. The more time we have to play out, the more time we have for the conditions to change.
NASDAQ:PRPLLong
by ir-rizzle
PRPL ichimoku entryHaving crossed above the cloud top today, conditions are satisfied to enter LONG for an expected pop of at least ~4%. This would be just a modest retrace toward today's high so probability is good. We can also see that a successful entry was recently called out by the indicator which boosts confidence. This strategy is based on capturing the quick pop in the day or two after the entry. Set stoploss at RED dashed line, trailing stop activation at BLUE dashed line with a value of $0.59 (1.95%).
NASDAQ:PRPLLong
by ragnarok628
Bulls vs BearsPurple is trading currently at its P-Pivot Point. There are good opportunities in both directions, we just have to wait for confirmation. IF the Pivot Point fails as a support level, shorts are the proper way to make money of the fluctuations. >Price targets: 1; 19.04 2; 16.85-15.87 If it holds, we could see a steady rise in the price even a breakout. >Price targets: 1; 23.84 2; 27.67 I currently sold some vertical calls, (20 Nov 20 22.5/25 CALL @.80), this is the safest way for now, and I will buy some puts if it gets below the Pivot Point. If the opposite case happens, close the trade and buy calls
NASDAQ:PRPL
by benedekdomotor
PRPL 1D 200 EMA PULLBACK STRATEGYHow can I use Exponential Moving Averages (EMA) to trade Pullbacks? Trading pullbacks with EMA can be done profitably as long as we use a long-term exponential moving average. And, without a doubt, the 200-day EMA is probably the most powerful moving average that a trader can use. For a valid EMA pullback setup we need two things to happen: First, a break of the EMA. Second, the price needs to move further away from the EMA, creating an empty space. Once these two variables align together we have a powerful EMA trading setup. Here is a stock chart highlighting this EMA stock trading strategy:
NASDAQ:PRPL
by Tradingstrategyguides