meme stocks showing pairity (HOOD, GME, AMC)
the grouping of retail longs and its mothership, Robinhood are showing bullish divergence from oscillators and oversold conditions in rsi. the relative strenght based qqe signals strategy has put in nothing but shorts and faile long entries. the chances of the strategy continuing to make money short is low.
elliott wave sage of youtube has released a video detailing why this wave 5 leg down could lead to reversal. a cross above the VWMA 12, close, 9 in HOOD would be bullish for this group. if we fail the 1.618 and hold or fakeout bear the 0, or continue above 13.89 immediately, not breaking 12.39, a trip over 16 could be in the cards.
this stock is a great buy under $10, and shows there is attractive value around these internal and fundamental levels to do with proportions of debt to earnings with the credit they have and p/e compared to cash on hand.
ask yourself would robinhood buy itself at these prices. if the answer is yes then its a good time to invest. they are a brokerage like any other. they make money when people change their outlook. prices can go up or down, but they profit from volatility and uncertainty.
elliott wave sage of youtube has released a video detailing why this wave 5 leg down could lead to reversal. a cross above the VWMA 12, close, 9 in HOOD would be bullish for this group. if we fail the 1.618 and hold or fakeout bear the 0, or continue above 13.89 immediately, not breaking 12.39, a trip over 16 could be in the cards.
this stock is a great buy under $10, and shows there is attractive value around these internal and fundamental levels to do with proportions of debt to earnings with the credit they have and p/e compared to cash on hand.
ask yourself would robinhood buy itself at these prices. if the answer is yes then its a good time to invest. they are a brokerage like any other. they make money when people change their outlook. prices can go up or down, but they profit from volatility and uncertainty.
Comment:
would not be surprised to see a weekly bounce soon
Trade closed manually:
i would take most or all long off the table here
