IF and only IF The Rally Continues
This ticker has been showing some good strength lately. It is showing signs of the beginning of a recovery after a massive dip. The chart formed a higher low and a higher high which is uptrend 101. It is definitely possible that this could fizzle out very soon as the environment for stocks has not seemed to improve yet. But this jump in price looks strong and the buyers are still buying this thing up after each of these couple dips seen below.
IF and only IF this rally will sustain itself then there are a few good buy points if you like to wait for a dip to buy in. I've highlighted them below. If the uptrend will continue then these will be the most likely bounce points in my opinion. If this ticker just craps out on itself and tanks down with no buyers in sight and plows below every support level very quick then obviously this thing lost its luster for some reason and I will run away form this thing fast.
Future options activity is showing a strong bullish bias. So many investors are calling for more upside. When there are a ton of options involved then there are often profit taking moments or days where these low priced runners can dip very hard relatively as seen in these two charts. So you can expect nice ups and downs within the uptrend which gives many opportunities for the short term trader to dilute share costs to below zero. Or even the long term trader to continually DCA.
You can see these movements with huge swings in these low priced penny stocks often. Here are a few listed below. It happens in pharmaceutical companies very often.
$Mullen Automotive (MULN.US)$ $Redbox Entertainment (RDBX.US)$ $Toughbuilt Industries (TBLT.US)$ $Zendesk (ZEN.US)$ $Redhill Biopharma (RDHL.US)$ $Blue Hat Interactive Entertainment Technology (BHAT.US)$ $Exela Technologies (XELA.US)$ $Vroom (VRM.US)$ $Revlon (REV.US)$ $Mereo BioPharma (MREO.US)$ $Clovis Oncology (CLVS.US)$ $F-star Therapeutics (FSTX.US)$ $Rite Aid (RAD.US)$
$Mullen Automotive (MULN.US)$ $Redbox Entertainment (RDBX.US)$ $Toughbuilt Industries (TBLT.US)$ $Zendesk (ZEN.US)$ $Redhill Biopharma (RDHL.US)$ $Blue Hat Interactive Entertainment Technology (BHAT.US)$ $Exela Technologies (XELA.US)$ $Vroom (VRM.US)$ $Revlon (REV.US)$ $Mereo BioPharma (MREO.US)$ $Clovis Oncology (CLVS.US)$ $F-star Therapeutics (FSTX.US)$ $Rite Aid (RAD.US)$
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102640653 : I knew it profit take is there. Just see the movement of Tencent fantastic move after lunch they selll. Target 400 but unable to crack they kill it
SpyderCall OP 102640653 : did you hear of any reason why the profit take was so big on tencent?
102640653 : Never heard. But all counter drop back from their high in split seconds
102640653 : Bought back Tencent call warrants. Just heard that there was cash sale n share repurchases going on in the market . Just a normal excuse to profit take.
102640653 : Hopefully if correct it will bounce up a bit by market close
SpyderCall OP 102640653 : hang seng rejected all 3 of these strong resistance levels. when we get back above these levels then the sky is the limit
102640653 : What your view looking at Tencent closing today. Any changes. Did not hold above 388 hkd
102640653 : What is your play today . Alibaba looks like profit taking n then see how it goes from there
102640653 : A bit fearish on China counters
SpyderCall OP 102640653 : right. the profit take happened in US and continued in china. Lots of fear possibly from the covid fears in Macao?? or just a profit take?