WISH Trend Analysis following Earnings
Updated
If WISH misses with earnings this upcoming week, technicals and projected fundamentals support a break below valuation in the lower $11 range. With a test of $9.35 for the next earnings bottom range.
It is likely to find support in this range and move back into test range of $11.05 and $12.18 into the following earnings.
If WISH continues to beat expectations and hold progression, they have a future valuation of around $20-$21.
A nice move to set up reaching this evaluation would be filling supply and demand imbalances between $15.50 and $17.50, with retracements back into $12.50-$13.00 for a move into next earnings. Good earnings there would have the equilibrium to test above range of valuation as support, moving into this years full earnings release next year during Q1 2022.
It is likely to find support in this range and move back into test range of $11.05 and $12.18 into the following earnings.
If WISH continues to beat expectations and hold progression, they have a future valuation of around $20-$21.
A nice move to set up reaching this evaluation would be filling supply and demand imbalances between $15.50 and $17.50, with retracements back into $12.50-$13.00 for a move into next earnings. Good earnings there would have the equilibrium to test above range of valuation as support, moving into this years full earnings release next year during Q1 2022.
Note
An update on the channel trendlines-
Following the previously established regression channel and supply/demand triangular areas drawn in original idea.
A support formed within the lowest dip buy triangle (green) would be a good entry for a long term position.
If possible I will wait to see an accumulation range develop between $9.50-$11 with position adds at bottom of the range and profit taking within the supply triangle starting at $11.
This has a very good possibility of developing a projectable trading range into next earnings.
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