UWMC trade ideas
UWMC - Beat Down Buying Op - Earnings FEB 3 After MarketNYSE:UWMC
ENTRY = 9 - 10.50
1st target .5fib@11.81
2nd Target = .618fib@12.43
HODL Target = 14+
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Good luck, happy trading and stay chill,
2degreez
UWMCWhen looking at this, and knowing it's a SPAC. SPACS usually don't stay under 10 dollar per stock so there is a lot of buying at the lower 9 and looking at that we could see the average volume is decreasing and the stock is squeezing. Of course, the stock could move down but kind of unusual.
The 10 EMA is very low and has a large jump to fill. Looking for it to cross the 20 and 50 EMA.
I am seeing a lot of support around the 9.9 area and resistance at the 10.2 area.
This is looking more bullish than bearish,
UWMC Next Move UpTargets and stop losses on the chart. Its a massive company, 20% market share, great dividends, positive cashflow.
I'm still learning a lot.
