Trader Mike's Notes
Quite a set of signals fired for ABNB today. The most important, in my mind, is that it's closed above its 50 DMA for the first time in a few months. I also like that it's trying to bust out of a Bollinger Band Squeeze. Let's see if it can get any follow-through.
A recent IPO making new highs always gets my attention. This is too extended for my tastes but it's been added to one of my watchlists. I'm hoping to get a better entry point in the coming few weeks.
I almost hate to say it but this looks primed for a bounce. This is exactly the kind of action I created the "Calm After Storm" to find. I'd have more confidence in a bounce if this wasn't a meme stock though. Another thing I don't like is that it's pulled back under the low of June 8th -- So it could be setting up for a pattern of lower lows & lower highs. I could easily see CLOV bouncing weakly and setting up a short entry in a few days. Whatever it does, it should be interesting.
I noticed this on the "Expansion Pivot Buy Setup" scan tonight. After clicking through to the stock's page I noticed that it climbed above both its 50 and 200 DMAs today. That's some important technical repair for a stock which was down almost 50% from its February high. Looks like its next significant resistance is around 73, its late April highs.
A nice collection of signals on this today: 20 DMA Support + 180 Bullish Setup + Hot IPO Pullback + Pocket Pivot + Outside Day = free money! ;-) Let's see if it triggers an entry.
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