How to proceed on WISH? 🤓
This is just a consolidation. A normal movement that occurs when something did an amazing movement. It is how the market tells us that the stock is resting.
There’s nothing to worry about here, and since we are above the 20ma, we are fine, and the momentum is bullish.
The 20ma is a support for us here, and it seems WISH will hit it next, before it hits our first target at 15! The entry point was around 12.10, so, I believe it is impossible for us to lose money right now.
We are still in a bull trend in the 4h chart, but the problem is the RSI, which is overbought. This makes a pullback more likely, but this doesn’t change our thesis!
WISH is bullish, and I’m 100% sure that we’ll see pullbacks along the way, so, let’s just be prepared and be patient! I’ll keep you guys updated, as usual!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
There’s nothing to worry about here, and since we are above the 20ma, we are fine, and the momentum is bullish.
The 20ma is a support for us here, and it seems WISH will hit it next, before it hits our first target at 15! The entry point was around 12.10, so, I believe it is impossible for us to lose money right now.
We are still in a bull trend in the 4h chart, but the problem is the RSI, which is overbought. This makes a pullback more likely, but this doesn’t change our thesis!
WISH is bullish, and I’m 100% sure that we’ll see pullbacks along the way, so, let’s just be prepared and be patient! I’ll keep you guys updated, as usual!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
Related publications
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.