OPEN1 trade ideas
$OPEN. Newer highs soon?$OPEN has been trading in a wave pattern that's been easy to spot and enter during the previous 2 times they happened. The price squeezes into the 55ema, and stochastic rsi is below 30 is the buy signal before the next leg up (which it just flashed today).
Applied wave theory to the chart. Price targets on the chart. Not financial advice.
THE UBER OF REAL ESTATE SALESrecent 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.
OPEN Setting Up For Strong Bounce Off Major SupportToday, OPEN has dropped to its major trendline support (purple line) as well as its 50-day SMA (blue line). There is a high likelihood that OPEN will rebound to previous highs because (I) the stock has very rarely fallen below its 50-day SMA, and (II), it has rebounded off the trendline support multiple times in the past.
Classic falling wedge breakout on a greater cup and handle We've been watching this one very closely. We deem it way undervalued from a fundamental perspective given the revenue numbers as compared to Zillow. This is a sleeper in our opinion and anticipate stealing a lot of market share and investor interest from Zillow. An industry disruptor for a suppressed housing market that will boom once the pandemic subsides. Next target - $37 at the 100%-based fib extension. LONG.
OPEN - Active tradeEntered 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 Bullish!- 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 indicators showing sign of reversal don't miss this one!
$OPEN - keeping a close eye on it 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
OPEN - Breakout and Golden Pocket Fib ReversalPotential 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.
