WISH, On the way to become a real penny stock !
Updated
WISH is going to see very low prices !
WISH has more than likely completed the small counter trend correction (from 8.81 up to 10.69 ) replying to decline from 15.18 down to 8.81. What does it mean? It means a considerable decline is on the way soon!
How far it goes down? I have to say becoming a real penny stock is completely possible !
Stochastic indicator has recently made a bearish reversal near overbought zone in daily time frame which supports the analysis.
Once, both bullish and bearish scenarios were possible. We considered both and conducted our trade smartly. Now, Bearish scenario proved itself to be the right one.
Please check out my related idea about WISH alternative bearish scenario published on July 8th . More details are provided there.
We always trade in direction of the momentum !
WISH has more than likely completed the small counter trend correction (from 8.81 up to 10.69 ) replying to decline from 15.18 down to 8.81. What does it mean? It means a considerable decline is on the way soon!
How far it goes down? I have to say becoming a real penny stock is completely possible !
Stochastic indicator has recently made a bearish reversal near overbought zone in daily time frame which supports the analysis.
Once, both bullish and bearish scenarios were possible. We considered both and conducted our trade smartly. Now, Bearish scenario proved itself to be the right one.
Please check out my related idea about WISH alternative bearish scenario published on July 8th . More details are provided there.
We always trade in direction of the momentum !
Note
I have to emphasize that what happened after earning and reflected in pre-market is not a mid term or long term buying chance! If you are a day trader you can trade your strategy.Good Luck my friends.
Note
WISH, Alternative bearish scenario published on July 8th :
Note
What I mean by penny stock is below 5 USD !!Note
It was not a buying chance !. on the way to below 5 USD.Note
Now it is below 5 USD !
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