MAR Squeeze 3/3/23
Bull case:
- Holding the YTD AVWAP
- RSI divergence cleared up some overbought conditions (4hr chart)
- Good earnings and guidance
- Consumer is still spending like a maniac (credit cards)
- Seasonality is favorable
Bear case:
- No reopening in China
- High likelihood of higher rates (macro)
If last year's action is any indicator, some downside is not unexpected. Personally, this is a certified BTFD candidate.
Let me know what y'all think!
- Holding the YTD AVWAP
- RSI divergence cleared up some overbought conditions (4hr chart)
- Good earnings and guidance
- Consumer is still spending like a maniac (credit cards)
- Seasonality is favorable
Bear case:
- No reopening in China
- High likelihood of higher rates (macro)
If last year's action is any indicator, some downside is not unexpected. Personally, this is a certified BTFD candidate.
Let me know what y'all think!
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