Now this is crazy market times, we have tech fallin off a cliff, we have the spy retracing and struggling to make new highs, and most of the growth that had been in a wild bull market in 2020 now all beaten down not sure what to do with its self. Howver one thing to see is the monster ammount of FOMO we see rushing into some
Pump and dump, or crazy volatile small cap stocks. In my veiw, ppl have lost so much money in tech and other beat down names, they are rushing irrationally into some stocks that they can make a quick buck off and have potential to make big moves in a day or 2
That being said now on to the PHUN TA. We can see this has falling hard Howver as of now we have seem to found a steady bottom at 2.18. Obviously we need to keep that level in mind, but we have a large downtrendinf reistNce above formed from all previous highs. As of now that upper line is roughly around 2.70$.
4 hour has started to curl making a nice rounding price action bottom so far, of course no gaurentees. I did put a trade on yeateday around 2.24. I’m going to try to sneak in here with expectations of being stopped out below 2.17.
My plan is to run it to 2.70 so I’m in on 300 shares which ideally is risking 20$ off 672$ trade if pric breaches 2.18s. I may give a little room and risk 25-30$
If we pop to 2.70$ area. Will profit 140$ so 20-25$ risk to make 140$ rewar seems like a nice plan.
Pump and dump, or crazy volatile small cap stocks. In my veiw, ppl have lost so much money in tech and other beat down names, they are rushing irrationally into some stocks that they can make a quick buck off and have potential to make big moves in a day or 2
That being said now on to the PHUN TA. We can see this has falling hard Howver as of now we have seem to found a steady bottom at 2.18. Obviously we need to keep that level in mind, but we have a large downtrendinf reistNce above formed from all previous highs. As of now that upper line is roughly around 2.70$.
4 hour has started to curl making a nice rounding price action bottom so far, of course no gaurentees. I did put a trade on yeateday around 2.24. I’m going to try to sneak in here with expectations of being stopped out below 2.17.
My plan is to run it to 2.70 so I’m in on 300 shares which ideally is risking 20$ off 672$ trade if pric breaches 2.18s. I may give a little room and risk 25-30$
If we pop to 2.70$ area. Will profit 140$ so 20-25$ risk to make 140$ rewar seems like a nice plan.