Wayfair looks like a simple short ahead of earnings IMO
Updated
Looking at the chart it appears to have topped out in the descending channel, also correlating with the high ahead of their prior earnings - I'd at the very least look for a nice give back leading up to their earnings.
Reasons why:
-Insider Selling
-Mass layoffs not going to bode well for sales regardless of being internet based..
-Not profitable
-Debt
**My opinions only, not trading advice.
W
Reasons why:
-Insider Selling
-Mass layoffs not going to bode well for sales regardless of being internet based..
-Not profitable
-Debt
**My opinions only, not trading advice.
WNote
Candle setup from previous drop in October has similar candle as today... Note
Boom goes the dynamite. In short signal I trust.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.