Meme stocks are back at it. With GME and AMC running, BB could catch some bids too. If $9.6 breaks convincingly, the most recent price history between that level and $12.3 is straight up. Easy to target with 3:1 R/R but watch for 4h close above 9.6. Weekly hidden bullish divergence maturing. First higher low o 4h in a long time after very deep retrace (lost over 70$ os the value top to bottom). If you zoom out you can see that the stock is still down over 90% from historical ath.
Note
Sorry typos: *lost over 70% of its value from top to bottomTrade active
Broke above resistance and got 4h close there, even a backtest on smal timescales. Going long here with $12.4 target and very tight stop loss just below that newly established support level around 9.5.Note
Looking good. Targets after $12.5 would be around $14 and $20.Note
Looks like that 11.5 resistance (and 12 psychological) were real. Let's see if this has more energy left to continue higher.Trade closed: target reached
Keeping part of my position in for rest of the ride.Note
Target 2 reached, see you at $20 I guess!Trade closed manually
$20 is where I'm getting out, good luck to anyone still in, this probably has some more room to run but risk/reward at current levels is not worth it imo.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.