Long
CCIV, TIME TO BUY?
Hello fellow traders and investors, here's another trade idea.
CCIV has recently pulled back to the SMA100 and the common key level area, if CCIV makes a full recovery it offers a 70 to 100% ROI to the take profit area.
Technicals:
The Macd indicates that CCIV is oversold
The Ema's crossed over and is now in an uptrend.
When To Buy:
When the Macd indicates a reversal by crossing its EMA
When To Sell:
At the key level area.
Fundamentals: Churchill Capital Corp operates as a blank check company. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. Churchill Capital serves customers in the United States.
Rating: 60/100 because even if there's a potential head & shoulders being formed if you bought after 36$ there's no key level where I could envision CCIV getting rejected. Because of the high ROI potential, I think it's worth the risk however if I do take a trade, it will be a smaller position size.
NOTE: CCIV could also show signs of a head & shoulders pattern so if you do take a trade in the second shoulder zone make sure to watch your position size.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks.
CCIV has recently pulled back to the SMA100 and the common key level area, if CCIV makes a full recovery it offers a 70 to 100% ROI to the take profit area.
Technicals:
The Macd indicates that CCIV is oversold
The Ema's crossed over and is now in an uptrend.
When To Buy:
When the Macd indicates a reversal by crossing its EMA
When To Sell:
At the key level area.
Fundamentals: Churchill Capital Corp operates as a blank check company. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. Churchill Capital serves customers in the United States.
Rating: 60/100 because even if there's a potential head & shoulders being formed if you bought after 36$ there's no key level where I could envision CCIV getting rejected. Because of the high ROI potential, I think it's worth the risk however if I do take a trade, it will be a smaller position size.
NOTE: CCIV could also show signs of a head & shoulders pattern so if you do take a trade in the second shoulder zone make sure to watch your position size.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.