Cup and Handle Play
Diupdate
Hertz appeared to be filling the gap it created after briefly enjoying life as a meme stonk, but no. Instead it printed a textbook cup and handle, the likes of which I haven't seen on a real stock as opposed to making something up for demonstrative purposes. Even the nice cup and handles you see in the wild don't have this uniform volume profile through the cup.
Then comes the news that Hertz is set to spend billions on 100,000 Teslas. This kind of spend usually pushes a stocks price down in the near term but today we saw a gap up over the 9MA which was previously acting as resistance and is now support. After filling today's gap we are looking at a potential green close, which is crazy considering the hurting rental company's expensive announcement. Looking for around $35 by end of next week.
Then comes the news that Hertz is set to spend billions on 100,000 Teslas. This kind of spend usually pushes a stocks price down in the near term but today we saw a gap up over the 9MA which was previously acting as resistance and is now support. After filling today's gap we are looking at a potential green close, which is crazy considering the hurting rental company's expensive announcement. Looking for around $35 by end of next week.
Trading ditutup: target tercapai
I'm done! Called $35 at just over $26 and today we said hello to $46!
I hope everyone locked in their 75% gains and called it a day for now, I sure did!
See you on the next one!
TRUST THE CHART - K
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