Unity getting ready to possibly bounceWe got a pullback to the .5 node, fufilling dow theory. We also have oscillators set up to produce hidden bullish divergence. Weekly does not show impending reversal, but a bounce could be in order.
U trade ideas
$U shortbreak below support thats the 1st target, roll up with profits to 2nd target if continues downwards
Major pullback for UnityI'm expecting a major pullback for Unity. This thing is still way overbought and will drop a lot further over the coming months. The Metaverse is the latest fad that hypes certain technology stocks. The technology is great but we are way early on this one. This won't become a reality for a very long time, if at all. This is the 3-D Printing hype all over again. Even Zuck admits it may take several years to get there.
Unity could be looking at a pullback. With the metaverse incoming like puberty for the internet, im definitely looking to establish a position in unity. We might be seeing that time soon. Unity looks like it wants to play out some bearish divervence on the weekly chart. The rsi is pretty overbought along with forming divergrncr with tells me that a reversal could be coming soon.
There are two areas marked in red where support could be tested. So in conclusion, im short term bearish and long term ultrabullish.
U long after pullbackThe Unity Software price was continually increasing and now it is in overbought conditions (RSI>70) and above upper KC line. Therefore we expect a retracement to 50% Fib retracement level, which is also a previous resistance zone, that could act as a support for entering a long position.
Entry price: $175.08
Stop loss: $165.49
Target price: $207.33
no financial advice
Unity Software11.14.21 U Bobby's Homework Assignment . I did not think to project a target....I will try to remember this and post a chart below this video.
U - Strong break into all-time-high (ATH)Although U has recovered quite significantly from it's low of $76 in May21, it's recent break into ATH on 10 Nov is quite signifant, backed by strong volume.
I am expecting that it will have some way to rise (with near term support @ 174). Any near term retracement towards $174 would be a good opportunity to long.
ATH stocks tend to run for longer as they aren't impeded by "prior resistence", athough retracements along the way up is still part and parcel of an uptrend.
Once can consider to set profit targets along fib extension 1.618 and 2.00 of the AB swing up, or set suitable trailing stops to see how far it could go.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade
U - Potential Leader1. Confirmed Uptrend
2. Gap up & Huge Volume Post Earnings
3. Be Patient! Do not Trade right away because it is extended. Wait for a pullback to determine a proper entry.
4. Always have a SL
Long Unitybelieve the world is a better place with more creators in it. This is at the core of our business because we believe our technology can change the world. Our products give content creators the tools to not just entertain but to create innovative RT3D experiences and deliver better processes for almost every industry
Cup and HandleEarnings must have been received well. Price is OVER the top Bollinger band and is OVERBOUGHT on daily and weekly RSI set on 80, showing a lot of momentum. Price eventually returns to the safety of the bands.
An overbought stock is one that is trading at a price above its intrinsic value. When a stock is overbought, it's usually expected that the market will correct itself and move to a lower level.
The cup is 98.94 in depth so this is a deep cup. Targets are calculated using cup depth and fib levels.
Possible stop below handle low, or perhaps somewhere below where price pulled back to at market open. Everyone is different regarding risk tolerance.
Long entry level can be important to a person's psyche if a person wants to hang on for any length of time.
There is always tomorrow and the next day, well hopefully (o:
No recommendation
Unity TechnologiesA spike in consumer spending in the online gaming industry is expected to have driven Unity’s real-time 3D technology adoption among gaming companies.
Unity has been developing its platform by introducing product capabilities, which are likely to have been a major growth driver.
The constant demand for interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, and virtual reality devices is likely to have aided the company’s top line.
I like the U chart. We wait for the growth to the pointed Fibonacci levels above.
Best regards,
EXCAVO
Unity Software U potential head and shoulders Lets watch out for unity this week for a potential reversal to short it. Great risk to reward ratio here.
U LongUnity Software, Inc. develops video gaming software. It provides software solutions to create, run and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices.
Unity lets anyone be creative.
Unity Software Inc. (U) closed at $145.99 in the latest trading session, marking a +1.49% move from the prior day. This change outpaced the S&P 500's 0.48% gain on the day.
42.67 (41.30%) Up in the past 3 months
Bobby's Homework Assignment10.19.21 U and Natural Gas: Bobby's Homework Assignment : the importance of not only knowing what the market is doing, but what it is NOT doing.
Unity Software10.19.21 Bobby's Homework Assignment : U Draw the lines on the chart. There are not very many. Listen to my description and then try to describe what I said once or twice. Make sure that you make distinctions as it relates to the PRESS. Make sure you mention the double bottom. Make sure you understand how to use the extensions to find the trade entry, and also to find the target. Do not forget the concept of RUNNING the stops. The next day review the chart that you have drawn and try to talk through the chart as if you were teaching somebody and mention all the points that you can remember, and then go back and see if you missed anything when you look at your notes from the previous day. Better yet, I would suggest that you find the prettiest girl that smiles at you and ask her if she wants to get together with you to look for stock picks. And then explain to her some your ideas about a good stock for your portfolios. There is nothing like learning something and then showing what you learn to other people.
U10.6.21 U Unity Software Bobby's Homework Assignment ( I ran out of time at the end...and I may have discussed more than what was needed >>>don't freak-out..it will become more clear. )
Cup and HandleThis is an intra-year C&H pattern and there is plenty of resistance overhead. At cup break out, there will be a gap to encounter with possible resistance at the top of that gap.
Negative volume is high on this one. Short interest 6.26% possibly due to the resistance overhead or anticipation of the next "buy stocks on sale" market day.
Yearly high is 174.94. U came off the bottom with an inverse head and shoulders pattern and has broken neckline a while back.
The 50 has crossed up and through the 200 SMA. The 200 a bit flat today but the 50 is sloping up as is the 100.
no recommendation
UPDATE. Unity stock trading plan $UHi everyone!
Today I decided to post an update on my initial NYSE:U prediction made a month ago.
Here is what happened:
Price broke out of the long-term downward trend sooner than I expected.
Trend line got softly backtested and held.
Supply level at 139 level was reached.
Return to strong 128 demand level.
As much as I love this stock I do not believe it will keep the pace on the way up.
I expect it to hard backtest the red trendline.
If that holds, Scenario #1 will still be intact.
It is also clear now that Scenario #2 did not play out, which is obviously good.
Trade wisely and good luck!
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Disclaimer!!!
This is not financial advise.
