$IOT flag break out patternNice break out today. Not a financial advice just analysis on the chart pattern.
IOT trade ideas
IOT Samsara Options Ahead of EarningsAnalyzing the options chain and the chart patterns of IOT Samsara prior to the earnings report this week,
I would consider purchasing the 25usd strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $1.40.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
IOT possible Long ideaWhile market was overreacting from the Fitch downgrade of the USA, traders did what they do best, they traded and analyzed.
After a short holiday, I am back with monitoring markets and checking for some nice profit making possibilities. Therefore, I found a good play in making, Samsara Inc., ticker IOT.
Things to consider when looking into this new tech stock are:
1. There is a Cup and Handle formation in forming, the pattern is far from done and it will need some time to be completed, so I will wait and monitor closely the price action.
2. There is a huge Double Bottom pattern in making as well, which needs to broke levels between $28.78 and $30.82 price range to be considered a valid break of the pattern.
3. My guess is that the price will fall from this level, up to the smaller support level sitting at around $21.69 to $22.58 price range. If it falls to that price level the Cup pattern will get it's Handle and this will be my first buy point. I will test this price range with 20-30% of planned buying.
4. If I am wrong and price continues to drop from that level, my Stop Loss will be sitting at $20 round. I will sell everything at this price range.
5. If by some chance we don't get Handle formation but we got the break of the Double Bottom pattern instead, I will be entering my trade at around $29.75 as my first buying opportunity.
6. My Stop Loss will be set at 8% range from the entry price, sitting at around $27.2 price level.
Please be aware that this is on Weekly level and it will surely take some time for everything to be done as analyzed. Of course, as always, please do your own due diligence before investing your hard earned cash.
IOT | InformativeNYSE:IOT
The bullish line is at 27.77, indicating a potentially bullish signal and suggesting upward price movement. In this scenario, the target prices could be set at 28.30, 29.05, and 30.09.
On the other hand, the bearish line is identified at 26.59, suggesting a bearish signal and the possibility of downward price movement. In this case, the target prices could be set at 25.64, 24.52, 22.24, and 19.50.
* Based on the sell pressures on the recent daily candles, I'm personally bearish.
IOT repeating a move from VEEV in 2017 Very BullishSince I have been using chatGPT, I have taken a very bullish approach to all things ai. This stock is one of the leading in its sector. While charting it I noticed it had the same Chart Pattern as VEEV in 2017. Which went from 17 - 50 in 8 months. So far this stock has spent 4 months under institutional control since it hit its low and started Accumulation. Its low is around $8.50 and looks like its following this pattern almost perfectly.... there are some efficiency differences but somehow gets all the moves still in there. Ill post the Chart here for you to see.
by iCantw84it
03.30.23
Bouble bottom confirmed! $IOTAfter a double-bottom, the stock price pulled back to support and now is breaking out and getting near its IPO price.
The OBV is already above its IPO levels and the MACD keeps trending higher.
Also, AMEX:XLK is the leading sector, this should help NYSE:IOT price action.
I entered 1/3 of the position as the market still needs more work to get aggressive.
Samsara provides an end-to-end solution that allows businesses that depend on physical operations to harness IoT data.
$IOT ready to break 52 weeks highThe stock is showing strength lately,
Started initial position 1/4 when it broke above HVC (High Volume Close) line and short term moving averages from oops reversal open on Friday
Added another 1/4 today when after open above 20.25 which was acting as a resistance lately, it also broke above BB range on above average volume (executed @ $20.60)
Watching the stock tomorrow, if it breaks above $21.50 (52 Weeks high) will buy the second half
Samsara Pulls BackArtificial Intelligence (AI) has become a big theme recently. Let’s take a look at Samsara, a newer company with potential exposure to the trend.
The first pattern on today’s chart is the price level at $17.49 where IOT peaked last August. Notice how the stock paused below the zone on March 2, and then ripped higher after quarterly results beat estimates. (Interestingly, it was the second straight quarter with a bullish gap higher.) Also notice how prices tested and held the same level on March 23.
Second, the 50-day simple moving average (SMA) rose above the 200-day SMA early last month. That kind of “golden cross” may suggest the longer-term trend has grown more bullish.
Next, stochastics have slid to oversold territory.
Finally, the current pullback has potentially completed an ABC correction.
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$IOT Breaking Out?I have been in and out of this name 4 times in the last 6 weeks. Combination of all trades is just better than breakeven. Maybe the 5th time will be the charm? I like the story behind the stock as a recent IPO. It has yet to have real earnings, but sales keep increasing (See Earnings Box). As you can see, I have a small starter position. I will look to add once it closes a couple times over the 30-week MA. And then again if it can get over the next line of resistance around $13.90 ($14).
You can also see on the chart I have chosen this stock as a “Candidate” to double or more in 2023, TBD.
I published this idea in the recent past, link below.
Ideas, not investing / trading advice.
$IOT Power Earnings Gap (PEG) Continuation$IOT Continues to power higher after earnings gap (PEG). Friday it broke above the 30 Week MA and today it’s over the 40 Week MA. I have a small position that I’ll continue to build out over the next few days if it holds, although a little rest would not be bad either. My first price target is the $17 area. See Chart for notations. Ideas, not investing / trading advice.
IOT Bullish Hedged Options StrategySF-based Samsara provides a platform connecting IoT devices to its Cloud, for operations such as tracking fleets of vehicles and other equipment. (Its ticker, IOT, alludes to the "Internet of Things" -- connecting a network of objects with sensors, processing ability, software, and other technologies that exchange data over the internet or another communications network.) Samsara's Connected Operations Cloud also takes data from its IoT devices and enriches them with AI capability, analytics, alerts and data security/privacy. It also has advanced applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility. Customers include companies from a wide range of industries, including transportation, logistics, construction, utilities, energy, government, healthcare, education, manufacturing, food and beverage, supply chains in general.
Major indices $SPX $SPY $QQQ continue to rise today, with midterm elections settling down (historically a boon for stocks) and hopeful inflation data. With a positive outlook and the holiday season approaching, perhaps IoT and supply chain logistics would be a good investment. The most recent wicks also show investors trying to drive the price up, especially on smaller timeframes such as 2-4 hours, bumping it up to the EMA.
This strategy can make up to 20% (30% annualized) while protecting from a fall of up to 27% as of 7/21/2023.
Sell 1 $7.50 put (exp 7/21/23)
Sell 1 $10.00 put (exp 7/21/23)
Capital Required: $1492
Win Probability: HIGH
IOT - possible bounce into uptrend
Downtrend since IPO high of 31$.
Already bounced off ATL 3 times, ie: strong support there.
If this current test bounces again, a quad bottom will have formed. Might enter a new uptrend.
Watch next day candle for confirmation.
To be updated.
finance.yahoo.com
" IonQ’s New Barium Systems Demonstrate Industry-Leading Qubit Readout Performance
Thu, March 3, 2022, 9:00 PM
Barium systems, announced last December, already demonstrating superior fidelity
State detection fidelity data outperforms all other commercial systems and is expected to contribute to higher algorithmic qubits (#AQ) on upcoming barium systems
COLLEGE PARK, Md., March 03, 2022--(BUSINESS WIRE)--IonQ (NYSE: IONQ), a leader in quantum computing, today published results from its new barium-based quantum computer showing its superior state detection fidelity. The results reflect a 13x reduction in state preparation and measurement (SPAM) errors, a metric core to producing accurate and reliable quantum computers. On a per-qubit basis, IonQ has reduced these errors from 50 errors per 10,000 computations down to only 4 errors per 10,000 computations. In other words, IonQ’s barium qubits have brought the company from a 99.5% state detection fidelity up to an industry-leading 99.96%..."
