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$TKAT bull run next week?
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If you missed the TTKAT and general NFT craze from a few weeks ago, it's back. TTKAT has had 3 strong days and now closed kissing top of Keltner channel closing up 36.65% :o
Generally I don't like to enter swing trades Friday afternoon or after such a strong green day, but made an exception here due to the potential for an explosive move next week. TTKAT did this before on it's insane March 15-23 run. On the daily we see something looking like a Bull Flag Breakout. Resistance free to $46. If it breaks though that with force I think there a shot at breaking all time highs at $74 to who knows where.
Trading these guys is tough as they jump around A LOT, up to 40% a day. If you're only into FANG and fundamentals, this is NOT for you. I'm trying to be careful with my risk management and hope you will be too. This is very low float and with 42% insider ownership, so if they hold we're good, if they dump... well not so much.
Any thoughts on all of this? Agree? Disagree? Please let me know. I want to hear your analysis. Any tips on holding through gut wrenching pull backs on this kind of trade and timing the exits would be appreciated..
Generally I don't like to enter swing trades Friday afternoon or after such a strong green day, but made an exception here due to the potential for an explosive move next week. TTKAT did this before on it's insane March 15-23 run. On the daily we see something looking like a Bull Flag Breakout. Resistance free to $46. If it breaks though that with force I think there a shot at breaking all time highs at $74 to who knows where.
Trading these guys is tough as they jump around A LOT, up to 40% a day. If you're only into FANG and fundamentals, this is NOT for you. I'm trying to be careful with my risk management and hope you will be too. This is very low float and with 42% insider ownership, so if they hold we're good, if they dump... well not so much.
Any thoughts on all of this? Agree? Disagree? Please let me know. I want to hear your analysis. Any tips on holding through gut wrenching pull backs on this kind of trade and timing the exits would be appreciated..
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A doji day was expected, but as this one was inside and within the upper Keltner band (instead of above it), I view it as truly a doji representing indecision and a momentum pullback. We'll have to wait and see...Заметка
TKAT has formed a Pennant over the last few days which usually can mean indecision. As the bears have been unable to push the price into the lower band of the Keltner channel, my outlook leans bullish. s3.tradingview.com/snapshots/3/3l1lFSGy.png
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What a great day for TKAT! Despite a bit of bear day and some wild swings in futures, it pushed to the close with volume, up 24.2% - and holding in the evening market. So thesis confirmed at this point. Took a couple days longer than I wanted but it happens. My hope is that now that it has forcefully pushed out of the Keltner channel is where the real fun begins. When it had the mad bull run in mid-March it peaked up 1800%. Yeah that's not a typo. So if we get that kind of action again, hold on tight. Be prepared for wild swings over 100% + and -.
If it forcefully breaks the resistance at 45, we're free and clear up to 75. If we break that then we're off to the moon, who knows where. I think there's possibility for that as this consolidation over the last few weeks around $30 is still actually up 1000% from where is was sitting at the beginning of March around $3... soooo LET'S GO!! Trade safe guys, this could get crazy. And remember - 42% insider ownership... If they dump it'd be a train wreck. Good luck.
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Looking back at March we had a inside Doji day on the Friday after the breakout, then the mad pump on Monday...Заметка
One last thing - unlike in mid-March we do NOT have news catalyst. So without a pump from tons of retail investors jumping onboard this could be more regular bull run. If and when we get a close inside the Keltner channel I would consider this thing over for now. Even in that scenario still an interesting one to consider holding after thorough DD.Заметка
Looks like the lack of news catalyst indeed led to low volume and mean reversion. We got a few days good run though. Let's keep an eye on for a bounce at the bottom of the Kelnter now around 20, and for news to get this one back on the move
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