W will go down. Fast. I'd say probably a day before the 18th Annual Consumer Conference on June 19th where Michael Fleisher, CFO, is presenting.
Wayfair has consistently trended more negative in net income with every report, with a smaller number of shareholders than previously this year, I expect this bullish wave the come to abrupt stop.
I have put options exp: 5/29 (which are selling at a discount) and I expect them to maintain somewhat stagnant at this $108 resistance before a huge sell off causing W to drop to around $70-80.
I would love to know what ya'll think about this position. After this strong rally throughout May could Wayfair possibly maintain this momentum? Do you disagree, agree? Leave it in the comments.
Wayfair has consistently trended more negative in net income with every report, with a smaller number of shareholders than previously this year, I expect this bullish wave the come to abrupt stop.
I have put options exp: 5/29 (which are selling at a discount) and I expect them to maintain somewhat stagnant at this $108 resistance before a huge sell off causing W to drop to around $70-80.
I would love to know what ya'll think about this position. After this strong rally throughout May could Wayfair possibly maintain this momentum? Do you disagree, agree? Leave it in the comments.
Comment:
it begins...
it begins...
Comment:
Weekly chart looks mostly the same but shows a possible week/2 week decline
my options expire the 29th! Lets hope one week
Weekly chart looks mostly the same but shows a possible week/2 week decline
my options expire the 29th! Lets hope one week
Comment:
^week or 2 before the decline still
Trade closed: target reached:
If today closes under 109, we have real momentum and likely will see a large drop tmrw, to $85-100. Personal Price target = $90.
If today closes under 109, we have real momentum and likely will see a large drop tmrw, to $85-100. Personal Price target = $90.
Comment:
So... last time W pushed a new high resistance level, the next week the stock tanked, earnings were in play so its hard to tell what will happen, but my puts expired so i'm SOL.
Good luck all.
So... last time W pushed a new high resistance level, the next week the stock tanked, earnings were in play so its hard to tell what will happen, but my puts expired so i'm SOL.
Good luck all.
Elliot Wave analysis, we've already gone through a full cycle of expanding triangle patterns. As you can see W has nowhere to go but down, maximum share price ~$111 -112 prior to drop.