Hello traders and investors! Let’s see how WISH is doing today, and do a Multiple Time Frame Analysis (MTFA) on it!
First, the 1h chart tells us that we have a possible IH&S pattern (possible, as it wasn’t triggered). The key point for us is the $ 10.34, as this is a pivot point and the neckline of the chart pattern.
Remember, every H&S or IH&S are just two pivot points mirrored, and this is why it works as a nice reversal when triggered. It denies the previous pivot, and triggers a new one, reversing the previous trend.
We are breaking the 21 ema for the first time in one month, and we might see something new here on WISH.
The $ 15 is the main target if WISH triggers the pivot point in the 1h chart, as it worked as support and resistance multiple times. The market has memory, and some price levels are relevant for the stock.
On the other hand, we must lose the $ 8.84, as this will create a bearish structure and WISH will keep dropping, probably to the $ 7.40.
WISH is engaged in a bear trend since the IPO, but the $ 15 seems to be a pivot point for WISH in the weekly chart.
This week is bullish so far, and if we do a bullish structure around here, it’ll be a good place for a bottom. Either way, I presented the key points for you in this analysis.
Remember to follow me to keep in touch with my daily updates, and if you liked this idea, please, support it!
Thank you very much!
First, the 1h chart tells us that we have a possible IH&S pattern (possible, as it wasn’t triggered). The key point for us is the $ 10.34, as this is a pivot point and the neckline of the chart pattern.
Remember, every H&S or IH&S are just two pivot points mirrored, and this is why it works as a nice reversal when triggered. It denies the previous pivot, and triggers a new one, reversing the previous trend.
We are breaking the 21 ema for the first time in one month, and we might see something new here on WISH.
The $ 15 is the main target if WISH triggers the pivot point in the 1h chart, as it worked as support and resistance multiple times. The market has memory, and some price levels are relevant for the stock.
On the other hand, we must lose the $ 8.84, as this will create a bearish structure and WISH will keep dropping, probably to the $ 7.40.
WISH is engaged in a bear trend since the IPO, but the $ 15 seems to be a pivot point for WISH in the weekly chart.
This week is bullish so far, and if we do a bullish structure around here, it’ll be a good place for a bottom. Either way, I presented the key points for you in this analysis.
Remember to follow me to keep in touch with my daily updates, and if you liked this idea, please, support it!
Thank you very much!
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
