Long
Wish forming potential double bottom
Wish has been extremely beat up since it's IPO, the company is throwing off huge revenue streams and I personally believe it's future is bright for a long term hold. However, in the short to medium term I am looking for Wish to form a double bottom in the low 6s, around 6.11ish, and to bounce off of that low breaking the downward trendline in that process. I fully expect it to recover over $9.40 within the next few months.
Do you own DD I am not giving any advice. Final word of caution - the market is in a very precarious spot right now, with a correction potentially already having been started. Might be a better idea to scale in smaller than usual if you want to take a shot at going long anything right now.
Do you own DD I am not giving any advice. Final word of caution - the market is in a very precarious spot right now, with a correction potentially already having been started. Might be a better idea to scale in smaller than usual if you want to take a shot at going long anything right now.
Nota
Wish looks to have held the double bottom and it's currently trajectory upwards looks fantastic. My plan is to continue to hold to $9.40 unless the market takes a significant downward turn.
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