Hello fellow traders and investors, here's another trade idea.
CCIV has recently pulled back to the SMA100 and the common key level area, if CCIV makes a full recovery it offers a 70 to 100% ROI to the take profit area.
Technicals:
The Macd indicates that CCIV is oversold
The Ema's crossed over and is now in an uptrend.
When To Buy:
When the Macd indicates a reversal by crossing its EMA
When To Sell:
At the key level area.
Fundamentals: Churchill Capital Corp operates as a blank check company. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. Churchill Capital serves customers in the United States.
Rating: 60/100 because even if there's a potential head & shoulders being formed if you bought after 36$ there's no key level where I could envision CCIV getting rejected. Because of the high ROI potential, I think it's worth the risk however if I do take a trade, it will be a smaller position size.
NOTE: CCIV could also show signs of a head & shoulders pattern so if you do take a trade in the second shoulder zone make sure to watch your position size.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks.
CCIV has recently pulled back to the SMA100 and the common key level area, if CCIV makes a full recovery it offers a 70 to 100% ROI to the take profit area.
Technicals:
The Macd indicates that CCIV is oversold
The Ema's crossed over and is now in an uptrend.
When To Buy:
When the Macd indicates a reversal by crossing its EMA
When To Sell:
At the key level area.
Fundamentals: Churchill Capital Corp operates as a blank check company. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. Churchill Capital serves customers in the United States.
Rating: 60/100 because even if there's a potential head & shoulders being formed if you bought after 36$ there's no key level where I could envision CCIV getting rejected. Because of the high ROI potential, I think it's worth the risk however if I do take a trade, it will be a smaller position size.
NOTE: CCIV could also show signs of a head & shoulders pattern so if you do take a trade in the second shoulder zone make sure to watch your position size.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks.