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    • Apr 11, 2022

More Buyers or Sellers: Quick Trade Update


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HK Parker
Apr 13, 2022

TRI $2.60 ATR declining weekly by roughly 20 cents past 3 weeks. Curious to see if that rate continues or accelerates below $3 bottom.

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john
Apr 14, 2022
Replying to

Okay after updating my signals this morning I'm planning to trade out of this today. Unimpressive news this morning that they are issuing $30m of new shares for their board to buy. Bulls seem to be counting on a FB or MSFT acquisition and while it makes sense, there is nothing to suggest it is imminent at present.

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HK Parker
Apr 12, 2022

Nice bottom catch!! But I’m skeptical of your target in the near term. I’ve been wrong plenty but I see dead cat bounces from a stock that’s lost 2/3’s of its value in 90 days. There isn’t a day candle above $51.65; 3 wicks touch $52.88 past 43 days. I could see it ranging $39.44 to $50.62 then retest $35.53. Honestly, I’d be looking for reasons to sell above $46 with potential top $47.83. Every peer has a quant sell or hold. The communication sector is down. And historically will continue in that direction or has in similar economic situations.

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john
Apr 12, 2022
Replying to

Thanks HK. It and the market were going to open lower so I refrained from buying the open. Then it was a case of waiting for a the first sign of buying and putting a limit order below the prior price level.


You could well be right about the target. If the trend remains lower then the best we could do is an ABC up to 55-57. Here, 57 is the C=A target and 55 is a round number just above the range during the current correction. RBLX has a daily range of $3-$6 so if it can take out the highs in the region of 53 then it should certainly get close to 55.


Of course as you rightly…


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