Wish has broken down out of two wedges, and near term is looking bearish. However, there is an extremely large gap to fill and it's daily RSI is now indicating that on a daily basis it is extremely and unsustainably oversold. Final point - please note the large volume the day after it dropped after missing earnings. It does not show up well on the daily, but if you break down the hourly it shows these were actually extremely large volumes of buying (and on further digging it shows these were major institutional investors).
My personal thesis is that Wish will be back over $9.40 by the end of next month. I'm buying this dip, do your own DD before deciding what you want to trade.
My personal thesis is that Wish will be back over $9.40 by the end of next month. I'm buying this dip, do your own DD before deciding what you want to trade.
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In at 6.58
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Closed at $7.28 on Aug 24, back in at $6.85 on Aug 26.
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Sold at $7.14 and back in at $6.95. I am even more confident and bullish on wish after today, the decent volume and relatively large uptick on the daily look great.
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The coil up continues to build, Friday and today's price action looks excellent. I believe that we are due for a gap fill at any point now. It would not surprise me if it was sooner than expected we all know this stock can move rapidly.