Going “all in” on WISH (Context Logic Inc)
After reviewing recent charts and analyses, I’ve decided to place a significant amount of my resources into WISH (Context Logic Inc). Today’s volume and price action demonstrated incredible consolidation. It had even closed at yesterday’s closing price of $13.50. This type of consolidation and repeat-closing, in combination with its recent uptrend, usually indicates a large, imminent break out. Thus far, analysts are estimating a big breakout to $20.00 (or possibly much higher) to occur this week. Some estimate this may even reach $50+, which quite honestly, would be no surprise.
There are also plenty of fundamentals and consumer and market data suggesting this is going to be a huge company. This is an excerpt from one of today’s articles:
"ContextLogic (WISH), an e-Commerce company most known for its discovery-based shopping app “Wish”, offers more than just meme hype. ContextLogic addresses a large and growing e-Commerce market and revenue growth is impressive, especially in logistics."
WISH definitely fits the criteria of a "niche" e-commerce stock, in which many analysts are encouraging retailers and institutions to invest, especially as consumer behavior are increasingly headed towards online habits (despite the country and world re-opening after a pandemic). WISH also has a huge proportion of institutional investors, suggesting the "big guys" know something about this company and stock. I think it is not a matter of "if" but "when" this stock will exceed it’s 52-week high of $32.85. Popular Stocktwits analysts like Dr_Stoxx is highly bullish on WISH, and he provided a pattern breakout estimate near $14 that would eventually send this to $20+. Other influential social media influencers like Zack Morris has a bullish case for $69!
This looks like this is the stock for me. Cross your fingers for me or, better yet, join me in this massive run 🙂
Anyone else with bullish cases for WISH, supported by fundamentals and analyses?
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June 22, 2021 at 02:12PM