Squeezed play
$ContextLogic(LOGC.US$ is obviously being squeezed now. There is a 50/50 chance for it to breakout to either side. The 2 big bullish bars inside the wedge makes me more inclined to a breakout to the upside.
However as next Wed (12/Jun/2024) is a CPI cum FOMC day, it will be a big move day for sure. If I do go long, I will buy some $5 puts as a hedge to the downside. There’s no 100% in trading, therefore don’t get FOMO and take your profit when it’s on the table. Otherwise things can always turn around anytime. Good Luck Guys !
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PS: Personal opinions and not meant to be financial advice.
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