Entered this trade on Jan 19 21. Trading an vertical debit spread to reduce the break-even price.
Entry: Waited for breakout triangle.
Exit: Target is ATH, but if the price runs up I will keep position open until 75-100% of profit target.
If trade goes south, I will exit with a loss of 50% of premium paid.
- OPEN is looking extremely bullish is in a huge channel between both trendlines (black trendline).
- It also looks like it broke out of flag and currently going to retest the trendline and making some sort of a falling wedge!
- It also looks like its a 5 wave structure to the upside, ending in that prefect trendline (black trendline)
- Overall Bullish with...
Some news: ARK recently purchased a large stake in OPEN
Technical:
- Symmetric triangle has broken out on higher TFs
- Falling wedge on 1H looks ready to pop
My PTs
- 31.5
- 35
Let's get it!
I want to see a strong Tuesday opening, in this case, the breakout will be imminent.
If you want me to analyze a specific stock currency etc... feel free to DM me.
It's an IPO, so chaos runs through its veins.
It still looks like it wants to take a blast off.
Watching it for entry, I am undecided if I will choose call options or commons.
I've been buying more commons than options due to an expected pull back that I predict will come around mid February 2021
Potential bottom at $21-22, rejection of the 0.618 golden pocket fib for a move up out of the falling cone. Double hammerheads on the daily as well. May see consolidation up to the ichimoku cloud for 1-3 weeks before a significant move up, similar to SPCE price action in the last month.
recent IPO so HIGH RISK but the business idea is one familiar to all investors as being sorely needed in the marketplace. amazing revenue growth and giant TAM potential BUT VERY SMALL MARGIN business. amazing disruptor with strong management. i bought as it was ready to move above 20dma after a quick test and rejection of the 50dma.
Asset and Time frame -OPEN,4H
Entry Price -23.79
Exit(Stop Loss) -21.30
Exit(Take Profit) -32.38
Technical Analysis - Daily chart reached a significant support line and the 50MA,making a hammer like pattern on the daily(depends on the close), on the 4H chart the RSI couldn't get to oversold(and a hammer + confirmation pattern again), price will get back to the...
A huge selloff finally found support yesterday on Fibs' and
the gap fill level, resulting in a 13% intraday reversal.
First major target to cross today is $27.00 (previous pivot)
$29.46 is a previous resistance levels which should act as
a good target in any reversal.
